Coinbase partners with Perplexity AI on real-time crypto data service

Coinbase has partnered with Perplexity AI, the artificial intelligence-powered search engine startup on a real-time crypto data service, according to an announcement on Thursday. 

The move marks the latest high-profile collaboration between leading blockchain and AI firms, like the deal between prediction market Polymarket and Elon Musk's AI firm xAI last month. Since the breakout success of OpenAI’s ChatGPT, developers have been looking for ways to integrate crypto into AI — and vice versa — usually aiming for enhanced automation. 

“I expect enhanced crypto functionality will be a catalyst for AI to achieve another 10x unlock,” Coinbase CEO Brian Armstrong wrote on X. “Personally I’m most excited to see crypto wallets fully integrated into LLMs one day. That will be a huge step towards a permissionless, digital economy.”

The service will “help traders get access to real-time trusted crypto data/info for better decision making,” Armstrong noted. 

According to Armstrong, the relationship will advance through a series of “phases,” beginning with today, the integration of Coinbase’s market data, including its COIN50 index, into Perplexity to “power market analysis.” 

“Users can double click into price moves to help make better informed trade decisions,” Armstrong said.

Phase 2, expected to roll out soon, will feed Coinbase’s market data as answers to Perplexity search queries and a “conversational interface.”

The announcement comes on the heels of bitcoin, the leading cryptocurrency, setting a new all-time high above $112,000, which some analysts say could prefigure a higher move up as well as more search interest. Google search interest, for instance, has been consistently higher month-over-month compared to the same period last year, according to The Block's data. 

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