Coinbase announces new acquisition, wants to become 'Google of crypto'

19 Feb, 2019
by Jelmer van der Dussen
News
Coinbase announces new acquisition, wants to become 'Google of crypto'

Coinbase has announced the acquisition of Neutrino, a blockchain intelligence platform. The cryptocurrency buying platform did not disclose the terms of the deal.

Coinbase states that Neutrino will help the company 'prevent theft of funds from peoples' accounts, investigate ransomware attacks, and identify bad actors'. Neutrino does this by analyzing data on public blockchains. Coinbase thinks it will help bring more cryptocurrencies and features to more people, 'while helping ensure complianse with local laws and regulations'.

In the statement, Coinbase says that 'Neutrino’s technology is the best we’ve encountered in this space, and it will play an important role in legitimizing crypto, making it safer and more accessible for people all over the world.' Neutrino will be operating as a standalone bussiness from the Coinbase London office.

Read more: Why isn't XRP on Coinbase?; will it ever get listed?

Some competitors of Neutrino in the space are Chainalysis and Whitestream.

Coinbase director of engineering and product, Varun Srinivasan, told Coindesk that the acquisition of Neutrino is a next step towards becoming 'the Google of Crypto', with Coinbase offering different products within the space: "If we see a really great team that’s built a really great product, like Neutrino, for example, you’ll see us go out and talk to them and try to bring them into the Coinbase family to extend the suite of products that we have."

Read more: Reports claim Coinbase is cancelling their Visa Shift Card

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