Coinbase announced on June 26 that it will not facilitate the merger of two assets related to the Artificial Superintelligence Alliance (ASI) token merger. Instead, the exchange will continue to support trading for Ocean Protocol (OCEAN) and Fetch.ai (FET) until further notice. Coinbase stated that users can perform the migrations through their self-custodial wallets, including Coinbase Wallet. The exchange also mentioned that the token merger would be compatible with “all major software wallets”. However, Coinbase did not comment on the third token, SingularityNET (AGIX), which will merge with OCEAN and FET in July.
In contrast, several other exchanges have announced their support for the token merger. Starting on July 1, these exchanges will close AGIX and OCEAN deposits and withdrawals while allowing FET deposits, withdrawals, and trading to continue. Eventually, AGIX and OCEAN will be delisted from these exchanges. The ASI token is expected to launch in mid-July, and users will be able to convert the tokens they hold in self-custody. Spot markets will be migrated from FET to ASI on these exchanges.
The token merger and the creation of the Superintelligence Alliance aim to promote the growth of decentralized AI infrastructure and challenge the dominance of Big Tech in the sector. The ASI token is expected to become the largest decentralized AI token by market cap, combining the current market caps of the three tokens, which amount to $5.8 billion.