Coinbase Announced That it Will Not Support the Merger of Fetch.ai, SingularityNET and Ocean Protocol

Top US crypto exchange Coinbase has announced that it will not facilitate the planned merger of multiple altcoin artificial intelligence (AI) projects into one new cryptocurrency.

In an announcement on X (Twitter), Coinbase said customers will have to handle the merger themselves.

Ocean (OCEAN) and Fetch.ai (FET) have announced a merger to create the Artificial Superintelligence Alliance (ASI). Coinbase will not perform the migration of these assets on behalf of users.

Back in March, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) unveiled their merger plan aimed at creating the largest independent entity in artificial intelligence research and development called ASI.

According to recent information from the project, the merger will take place in phases starting July 1.

Starting July 1, the token merger will temporarily consolidate SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET token, before moving to ASI’s ticker symbol at a later stage. This update enables efficient merger execution and outlines the timeline and important steps for token holders, ensuring a smooth and transparent process.

Coinbase has indicated that users can complete the merger using their own wallets.

Once the migration is launched, users will be able to migrate their OCEAN and FET to ASI using a standalone wallet, such as Coinbase Wallet. The ASI token merge will be compatible with all major software wallets.