The CEO of Fetch.ai, a company focusing on artificial intelligence (AI), reaffirmed that its planned token merger will proceed as scheduled, despite Coinbase not supporting it.

In a recent update on X, Fetch.ai’s CEO, Humayun Sheikh, confirmed that the planned merger involving AI tokens FET, Ocean Protocol (OCEAN), and SingularityNet (AGIX) remains on track.

“OCEAN and AGIX are merging into FET. Centralized exchanges (CEXs) do not need to delist or relist FET since it is already listed. Holders of FET should take no action. We are actively resolving any issues, and appreciate your patience. The timeline remains unchanged. Coinbase has specified that the swap will occur through custodial wallets. Despite differing methods among exchanges, the merger is proceeding as planned with broad support,” stated Sheikh.

Earlier this week, Coinbase, a prominent US-based crypto exchange, announced it would not facilitate the token merger among the three altcoins. Coinbase emphasized that users must initiate the migration independently.

“Ocean and Fetch.ai have merged to establish the Artificial Superintelligence Alliance (ASI). Coinbase will not facilitate the transfer of these assets for users… Once the migration commences, users can transfer their OCEAN and FET to ASI using self-custodial wallets like Coinbase Wallet. The ASI token merger is compatible with major software wallets.”

Originally announced in March, the merger aims to create the Artificial Superintelligence Alliance, which aims to revolutionize AI accessibility and utilization for all users.

Phase I of the merger is set to commence on July 1st.

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