SingularityDAO to merge with Cogito Finance and SelfKey following community approval

SingularityDAO will merge with Cogito Finance and SelfKey to form Singularity Finance, a layer-2 tokenization platform.

The move follows a governance vote in which the SingularityDAO (SDAO) community overwhelmingly approved the merger proposal. More than 15 million SDAO tokens were cast in the vote, with 94.78% in favor of the proposal.

SingularityDAO is a decentralized platform for AI-powered digital asset management; SelfKey offers a self-sovereign digital identity system and Cogito Finance focuses on real-world asset tokenization within the SingularityNET ecosystem.

The three platforms announced plans to merge in October, and it comes amid reports about how the mergers could increase the adoption of artificial intelligence and web3.

With the approval of the merger proposal, Cogito Finance, SelfKey and SingularityDAO have permission to create Singularity Finance, a new EVM layer-2 platform for the tokenization of the AI ​​economy.

Mario Casiraghi, co-founder of SingularityDAO, stated that SDAO holders’ approval of the merger is crucial for DeFi and AI innovation. Casiraghi added that Singularity Finance will incorporate SingularityDAO, SelfKey and Cogito Finance technologies as a layer 2 network.

In addition to SelfKey’s compliance solutions and Cogito Finance’s RWA tokenization service, Singularity Finance will include financial tools for automated analysis and risk management leveraging SingularityDAO technologies.

Singularity Finance aims to support a variety of AI-driven financial services, including real-world asset tokenization and on-chain identity management. According to the SingularityDAO press release sent to Crypto.news, the layer-2 platform aims to position itself as a leading platform for developers and users in the growing AI economy.

“By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi. Singularity Finance will be a leading force in driving innovation and accessibility in this dynamic environment, empowering both individuals and institutions.”

Cloris Chen, CEO of Cogito Finance.

CEO of SingularityNET and Artificial Super Intelligence Alliance, Dr. Ben Goertzel will lead a council that oversees Singularity Finance operations. The team will also include Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO.