Coinbase, a prominent U.S. exchange, has opted out of facilitating the proposed consolidation of multiple artificial intelligence altcoin projects into a unified new cryptocurrency.
In a statement released on the social media platform X, Coinbase announced that customers will be required to initiate the merger independently. The merger involves Ocean (OCEAN) and Fetch.ai (FET), combining forces to establish the Artificial Superintelligence Alliance (ASI). Coinbase clarified that they will not be overseeing the migration of these assets on behalf of users.
Back in March, Fetch.ai (FET), Singularitynet (AGIX), and Ocean Protocol (OCEAN) unveiled their intention to merge, aiming to establish the most significant independent entity in artificial intelligence (AI) research and development, known as the Artificial Superintelligence Alliance (ASI).
The merger is set to unfold in phases, commencing on July 1st, as per a recent project update. “Starting July 1, the token merger will initially consolidate SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, before transitioning to the ASI ticker symbol at a later juncture. This update streamlines the execution of the token merger, providing a clear roadmap and essential steps for token holders to ensure a seamless and transparent process.”
Coinbase has informed users that they can independently carry out the merger using their wallets. “Upon the launch of the migration, users will have the capability to transition their OCEAN and FET to ASI using a self-custodial wallet like Coinbase Wallet. The ASI token merger will be compatible with all major software wallets.”
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