Coinbase acquires crypto analytics startup Neutrino
Coinbase has acquired analytical blockchain startup Neutrino for an undisclosed amount, CoinDesk writes.
“This move is of particular importance for working with regulators and agencies around the world to integrate new assets in their jurisdictions,” said Coinbase Product Director Varun Srinivasan, adding that Neutrino will help the exchange determine “which new tokens gain value and popularity in this space “.
Eight Neutrino employees will move to Coinbase’s London office this week, continuing to operate as a separate division serving their own customers. According to Srinivasan, Neutrino’s solutions will allow for the valuation of new assets, while ensuring that unwanted activity is not carried out on the exchange site, without the need to transfer data to third-party services..
“We decided to join Coinbase because we fully support its mission to create an open financial system and share a commitment to regulation, legal compliance and security in the cryptocurrency space,” said Neutrino CEO Giancarlo Russo.
Srinivasan also noted that Neutrino is much faster at implementing features related to supporting various cryptocurrencies, and not just Bitcoin, than its competitors such as Whitestream and Chainalysis..
Last week, Chainalysis reported raising $ 30 million in round B of fundraising.
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