Blockchain & Crypto

World ID Launches in Singapore

Worldcoin iris-scanning crypto project has expanded to Singapore, enabling people to pass their World ID verifications via the Orb custom hardware device.

World ID Launches in Singapore

The Worldcoin project team has announced the launch of its World ID verification system in Singapore. Besides, project contributor Tools for Humanity (TFH) has become a member of Singapore’s startup and tech associations: ACCESS and the Singapore Fintech Association (SFA).

The expansion comes right after World ID was upgraded to the 2.0 version, which enables a wider range of use cases, including Orb+ with face authentication.

The update will introduce the Apps tool, enabling users to build and use integrations to verify their online accounts using World ID. The new Worldcoin App Store also includes integrations with Reddit, Discord, Shopify, Minecraft and Telegram.

As World ID verification locations expand across Europe, South America, and Asia, World ID-compatible wallet (World App) has surpassed 5 million accounts created. The company’s statistics show that the number of World App’s monthly active users has increased to 1.7 million, while total transactions on the app exceeded 30 million.

As of Dec. 13, 2023, 2 816 133 people across all continents have verified their World IDs with an Orb, including more than 1% of the population of Chile, 1% of Argentina, and 2% of Portugal’s population.

In November, Worldcoin also partnered with Ramp, a fintech company offering non-custodial, full-stack payment infrastructure, to enable WLD token holders to convert their digital assets into fiat currency. Initially, the crypto-to-fiat exchange within the World App will be available only through debit and credit cards. More payout options will be added in the future.

Besides the fiat conversion function, the World App has recently introduced grant redemptions for reserved WLD tokens. This service is dedicated to those users who have not yet had their World ID fully verified. Reserved token grants can be redeemed within a year from the reservation date on one condition – if the individual’s World ID has been fully verified. The eligibility for WLD tokens depends on geography, age, and other factors.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.