US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino

One of the largest United States cryptocurrency exchanges and wallet providers Coinbase, has officially acquired Blockchain-based intelligence startup Neutrino according to an official blog post published by the company today, Tuesday, February 19 and we are reading more about it in the latest crypto news.

Coinbase stated that the company will work and operate as a standalone business in London, England but the amount of the contract still hasn’t been disclosed. The US exchange thinks that the acquisition of the blockchain intelligence will contribute to creating a more open and better protected financial system. Coinbase expects Neutrino to help the exchange giant to prevent theft of funds and to improve the hacks investigation and also have a better way of figuring out ransomware attacks and suspicious transactions.

Also, the exchange pointed out that by acquiring of Neutrino will help in the adding process for more cryptocurrencies and features to the services of the exchange and will further help Coinbase to comply with current regulation.

At the start of this year, Coinbase announced another acquisition of the Andreessen Horowitz-backed startup Blockspring. This startup will produce tools that will help developers to gain and process information from programming interfaces.

In January, the exchange added more resources for the US customers to claim crypto trades on taxes which helped to integrate the system with the popular tax software TurboTax. Earlier this month, Coinbase launched support for EU residents who are now able to withdraw fiat currency via the payment system PayPal.

Moreover, Coinbase added BTC support for its wallet and now users can store their crypto in a uniquely secured private keys wallet.