Coinbase, a San Francisco, CA-based digital currency exchange, acquired Neutrino, a Milan, Italy-based blockchain intelligence platform.
The amount of the deal was not disclosed.
Founded in 2016 by Giancarlo Russo, Marco Valleri, Alberto Ornaghi, Neutrino leverages proprietary technologies to develop solutions for monitoring, analyzing and traking cryptocurrency flows across multiple blockchains, providing actionable insight on the whole cryptocurrency ecosystem.
The acquisition will enable Coinbase to add a layer of security to its platform. By analyzing data on public blockchains, Neutrino will help the company prevent theft of funds from peoples’ accounts, investigate ransomware attacks, and identify bad actors. It will also help Coinbase bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations.
The acquired company will continue to operate as a standalone business based out of Coinbase’s London office.