Coinbase, one of the top cryptocurrency exchanges in the US, has announced that it will not facilitate the planned merger of several artificial intelligence altcoin projects into a new crypto. In a statement made on the social media platform X, Coinbase stated that customers will need to initiate the merger themselves.

The merger, which involves Ocean Protocol (OCEAN) and Fetch.ai (FET), aims to create the Artificial Superintelligence Alliance (ASI), the largest independent player in AI research and development. However, Coinbase has made it clear that it will not execute the migration of these assets on behalf of its users.

The merger is set to take place in phases, starting from July 1st, according to a recent project update. The plan is to temporarily 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 date. This approach ensures an efficient execution of the token merger and provides clear timelines and steps for token holders.

Coinbase has informed users that they can carry out the merger themselves using their own wallets. Once the migration has been launched, users will be able to migrate their OCEAN and FET to ASI using a self-custodial wallet, such as Coinbase Wallet. The ASI token merger will be compatible with all major software wallets.

It is important for investors to conduct their own due diligence before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl, where this article was originally published, does not provide investment advice or act as an investment advisor.