Worldcoin, a digital identity and financial network, said it has launched its Orb verification service in Singapore, allowing residents to scan their irises and receive a World ID, a privacy-preserving digital identifier.
The Orb is a spherical device that uses multispectral sensors to verify the humanness and uniqueness of each user, without storing any biometric data. Users who get their World ID verified by the Orb are eligible to claim free WLD tokens, a cryptocurrency that is designed to give ownership and governance rights to the Worldcoin community.
Challenges to Operations in Some Jurisdictions
Worldcoin, co-founded by OpenAI CEO Sam Altman, aims to create a more human economic system that gives universal access to the global economy. The project has raised $25 million from investors including Andreessen Horowitz, Coinbase Ventures and Reid Hoffman.
The company also announced that it will stop offering its Orb verification service in India, Brazil and France, citing regulatory and operational challenges. Worldcoin said it will continue to support existing World ID holders in these countries and explore other ways to expand its network.
1.7 Million Monthly Active Users
Worldcoin said its World App, the first wallet app that supports the World ID and the WLD token, has been downloaded 5 million times and has 1.7 million monthly active users. The app allows users to send and receive WLD tokens, as well as participate in the Worldcoin governance process.
“We are excited to bring Worldcoin to Singapore, a leading hub for innovation and technology in Asia,” said Alex Blania, co-founder and CEO of Worldcoin. “We believe that Worldcoin can empower people to access the global economy and benefit from the coming technological prosperity.”