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Worldcoin launches in Singapore after pausing in India

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Worldcoin launches in Singapore after pausing in India
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Worldcoin WLD +3.22% , the crypto project co-created by OpenAI CEO Sam Altman, announced on Wednesday it has launched in Singapore. 

“Individuals in Singapore can now verify their unique humanness at an Orb in the latest sign of growing global interest in proof of personhood and the Worldcoin project,” the organization said in a blog post.

Although Worldcoin’s post focused on the potentially positive development of launching in an important and affluent economic hub like Singapore, the project recently both paused in India and ended registration services in Brazil and France. At the time, Worldcoin told The Block its initiatives in Brazil and France were only meant to be limited previews until rolling out more substantially in 2024. 

Separately, “Orb-verified proof of personhood services have been temporarily scaled back [in India] as the protocol works to develop and roll out a bespoke, safe and orderly process that sufficiently meets the demand,” the Worldcoin Foundation also said.

The Worldcoin project is an identity-focused initiative that uses its Orb devices to scan people’s irises in order to “verify their humanness.” The project also doles out WLD tokens as an incentive to sign up people up to the protocol. While WLD saw its price initially decline substantially after launch it has since rebounded, trading at $3.70 as of 2:30 p.m. ET.

WLD/USD price chart. Image: The Block/TradingView.

Forging alliances in Singapore

“In addition to World ID verifications, project contributor Tools for Humanity (TFH) has become a member of two of Singapore’s most respected startup and tech associations: ACCESS and the Singapore Fintech Association (SFA),” Worldcoin also said. “The project launch and association memberships come in the wake of a recent multi-city tour in Asia made by members of the TFH product development team.”

Tools For Humanity is the lead developer behind Worldcoin. The company was co-founded by Altman and Alex Blania, who also acts as CEO.

There are currently five locations in Singapore where people can be verified, according to Worldcoin’s site.

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About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master’s degree in Digital Sociology.

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