Coinbase Acquires Neutrino for Undisclosed Price

By Kapil Gauhar

Cryptocurrency exchange Coinbase has acquired blockchain intelligence startup Neutrino as part of a wider push to provide more diverse crypto assets across the borders. However, the terms of the acquisition have not been disclosed yet.

Founded in 2016, Neutrino is a blockchain analytics startup focused on developing solutions for monitoring, analyzing as well as tracking cryptocurrency flows across multiple blockchains, offering actionable insight on the entire cryptocurrency ecosystem.

Talking to the CoinDesk, Coinbase’s director of engineering and product, Varun Srinivasan said that the blockchain intelligence firm would help in identifying the new tokens which are gaining both value as well as traction in the space.

In an online post, Coinbase stated that Neutrino will continue to operate as a standalone business based out of the London office of the Coinbase.

The exchange said,

“By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations.”

Commenting on the acquisition, CEO of Neutrino, Giancarlo Russo, said that it was a crucial milestone for innovation in Italy, where it is based. He added,

“We decided to join Coinbase because we’re totally aligned with the company’s mission of building an open financial system and we share the same commitment to regulation, compliance and security in the cryptocurrency space.”

This marks the second acquisition of Coinbase this year following Blocksping last month. The company even made a number of acquisitions in 2018, including digital identity startup, Distributed Systems, Earn.com, and mobile ethereum wallet Cipher Browser.