In a move reflecting the growing intersection of artificial intelligence and cryptocurrency, Nasdaq-listed OceanPal Inc. has announced a $120 million private investment to establish SovereignAI, a new subsidiary dedicated to developing AI infrastructure on blockchain platforms. This strategic effort aims to capitalize on the expanding role of AI agents within the crypto ecosystem, with a particular focus on supporting the NEAR Protocol and its native token, NEAR.
- OceanPal Inc. raises $120 million via a private equity deal to fund SovereignAI, targeting AI-enabled blockchain projects.
- The subsidiary plans to acquire up to 10% of NEAR token supply, intensifying its involvement in the NEAR Protocol ecosystem.
- Partnership with the NEAR Foundation emphasizes a shared vision of โuniversal AI sovereigntyโ within blockchain networks.
- NEAR Protocol supports AI applications, facilitating secure, cross-network interactions for autonomous AI agents.
- The surge of AI agents in crypto markets highlights a new era where blockchain fuels autonomous financial operations.
OceanPalโs latest funding round signals a strategic push into the development of AI infrastructure on blockchain, with SovereignAI expected to implement a comprehensive crypto treasury strategy. The firm intends to acquire up to 10% of the NEAR token supply, marking a significant stake in the protocolโs native assets. This initiative aligns with the partnership forged with the NEAR Foundation, driven by a shared commitment to advancing AI’s potential within the decentralized ecosystem.
Launched in 2020, NEAR is a layer-1 blockchain renowned for its capabilities in supporting AI applications that empower autonomous agents to manage assets, interact across networks, and operate securelyโfeatures critical for the evolving landscape of DeFi and crypto markets.
OceansPalโs collaboration with the NEAR Foundation underscores a vision aimed at achieving โuniversal AI sovereignty,โ integrating the decentralized power of blockchain with advanced AI functionalities.
The recent announcement coincides with leadership changes at OceanPal, including the appointment of Sal Ternullo, a former State Street executive, as co-CEO, alongside David Schwed, with extensive experience at BNY Mellon, Galaxy, and Robinhood, as COO. Meanwhile, Illia Polosukhin, co-founder and CEO of NEAR Foundation, will serve on SovereignAIโs advisory board, joining notable industry figures like Richard Muirhead of Fabric Ventures and Lukasz Kaiser of OpenAI.
The Growth of AI Agents in Cryptocurrency
Autonomous AI agentsโsystems capable of perceiving, deciding, and acting independentlyโare increasingly integrated into the crypto sphere, leveraging blockchain networks to manage assets, execute transactions, and participate as self-governing economic actors.
In September, Coinbaseโs institutional strategy head, John DโAgostino, emphasized the vital role of crypto in AI operations, stating that โcryptocurrency is needed for AI agents to operate effectively in financial markets.โ Concurrently, Cloudflare announced plans for a stablecoin called NET Dollar designed to enable instant, AI-triggered payments.
Recent data from Dune Analytics revealed a more than 10,000% increase in transaction activity on Coinbaseโs AI-ready payments protocol launched this year, highlighting explosive adoption. Industry insiders also suggest AI agents are poised to become major users of Ethereumโs network, further integrating advanced AI systems into mainstream decentralized finance (DeFi) ecosystems.
As the crypto industry continues to evolve, the integration of AI agents represents a transformative step toward more autonomous and intelligent blockchain-based financial systems, with players like OceanPal positioning themselves at the forefront of this technological frontier.
