In line with an official ‘web-blog‘ post published, U.S. based cryptocurrency exchange and wallet service provider named ‘Coinbase’ has acquired blockchain intelligence startup Neutrino.
Coinbase disclosed that the firm will still operate as a standalone business in its London office. The amount of the contract has not been yet disclosed.
Coinbase believes that blockchain intelligence can contribute to creating an open and guarded financial set-up. The firm expects Neutrino to assist [Coinbase] prevent stealing of funds, investigate hacks and ransomware attacks, and determine suspicious transactions.
Moreover, the ‘exchange‘ hints that the acquisition will assist to add a lot more cryptocurrencies and features to its services, aiding [Coinbase] in obliging with current laws and rules.
As reported earlier this year, Coinbase proclaimed that it had acquired Andreessen Horowitz-backed tech startup ‘Blockspring‘. The startup produces tools that let developers to automatically gather and process data from application programming interfaces.
Even earlier in January, the exchange also ‘added‘ resources for purchasers within the U.S. to claim crypto trades on their taxes, integrating its systems with renowned tax software named ‘TurboTax’.
Later, in Feb., the exchange ‘launched‘ support for EU [European Union] residents to process standard fiat currency withdrawals to on-line payment system PayPal – a feature that was antecedently revealed for the United States based users only.
Moreover, Coinbase ‘added‘ Bitcoin [BTC] support to its [Coinbase Wallet] application, where the users can store their own cryptocurrencies protected by their unique personal keys.