Coinbase, a crypto exchange headquartered in San Francisco, California, as per a recent Coinbase blog published on Tuesday, Feb. 19th, 2019, announced acquiring Neutrino, a Milan, Italy-based blockchain intelligence platform.
Financial details of the acquisition deal were not disclosed.
The California based crypto exchange strongly believes in the importance of blockchain intelligence in the crypto ecosystem, the intelligence which it needs to achieve its goal of bringing the open financial system to the world.
Neutrino’s innovative blockchain intelligence technology will help Coinbase analyze data on public blockchains, helping them prevent theft of funds, investigate ransomware attacks, and identify intruders or bad players. Further, the Neutrino tech is also expected to bring in additional features in the cryptocurrency landscape, features like XFlow nSpect solution, which is featured on Neutrino’s webpage, developed specifically for Law Enforcement Agencies, to assist them in criminal investigations and intelligence gathering.
The Milan-based Neutrino was founded in 2016 and will continue to operate as a standalone business from its London office. Meanwhile, Coinbase is making good progress, last month on Monday, Jan. 14th 2019, it acquired Blockspring, an Andreessen Horowitz-backed tech startup, based in San Francisco, California, enabling data collection through APIs (Application programming interface).
Last year in Aug. 2018, the company acquired yet another San Francisco-based tech start-up – Distributed Systems to boost its identity validation and verification portfolio by bringing in cryptocurrencies and blockchain.