Coinbase Purchases Neutrino, Plans To Become The "Google" Of The Crypto Space

Giant American crypto exchange, Coinbase acquires blockchain analytic firm, Neutrino, as it aims at a wider push to offer more crypto asset across borders. This was announced in a press release recently.

Coinbase Recent Aquisition

As announced by Coinbase through its official Twitter page, the post reads,

The cryptocurrency exchange also notes in a press release that the acquisition of Neutrino would help the firm to prevent theft of funds from people’s account, investigate ransomware attacks and identify bad actors. Neutrino performs this action through analysis of the data on a blockchain. In Coinbase’s view, this will help bring Cryptocurrencies to more people while complying with local laws and regulations.
Coinbase director of engineering and product, Varun Srinivasan also mentioned that the acquisition of Neutrino is another step towards becoming “the Google of crypto.” Also, he stated that several other acquisitions are still in the works related to smart contracts and diversifying crypto-asset offerings.
Neutrino CEO, Giancarlo Russo stated in his statement that the acquisition is an important milestone for innovation in Italy where it is based. Further, he mentioned that the firm decided to join Coinbase because the firm is wholly aligned with the mission of Coinbase to build an open financial system. The two firms also share the same commitment to regulation, compliance, and security in the crypto space according to Russo.
Neutrino will be operating as a standalone business from the Coinbase’s London office.

Why Neutrino?

According to Srinivasan, Neutrino possesses better qualities in comparison with its competitors, such as Whitestream and Chainalysis, Neutrino is working faster to include features for Cryptocurrencies beyond Bitcoin according to him.
Also, Neutrino’s European connection could help Coinbase to gain grounds in the region. Srinivasan said that the analytic platform had done a great job of building up in the European market. However, Coinbase wants to bring them into the American market and the international market and also introduce them to companies that are doing all kinds of things with cryptocurrencies and requires blockchain intelligence.
Notably, blockchain analytic is becoming an increasingly important part of the broader space of cryptocurrency landscape.

Related posts
Banking RegulatorBinance.usBitcoin.comBlake PaulsonBrian BrooksCatherine ColeyCoinbaseCryptoCrypto ComptrollerExchangesNewsOCCOffice of the Comptroller of the CurrencyregulatorUS Binance

Former Comptroller of the Currency Brian Brooks to Lead Binance’s US Trading Platform

A former top regulator and acting head of the U.S. Comptroller of the Currency, Brian Brooks has been appointed the CEO of crypto exchange Brooks will lead the exchange on May 1st and replace the company’s current lead, Catherine…
AltcoinsAnalysisHideCryptopanicNewsNews 1Trading View

Cardano Price Analysis: 20 April

Cardano’s price has seen rangebound price movement for more than a month. While the surge that took place at the start of February did seem promising, the coin hasn’t been able to replicate such uThe post Cardano Story continues on…
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

Uniswap Price Analysis: 20 April

A lot of the gains Uniswap was able to register in the past month were undone as bearish pressure overwhelmed the crypto market a few days back. While many of the altcoins were quick to recover, UNI?The post Uniswap Story…