Singapore Welcomes World ID Verification Debut As Worldcoin Struggles In Red Zone

Worldcoin, the iris biometric cryptocurrency project, announced the official launch of its World ID verification in Singapore. However, despite this positive news, WLD, the initiative's native cryptocurrency, is still trading in the red zone Wednesday, despite an impressive gain over a 30-month period.

Recently, Worldcoin announced its global expansion of verification locations, following the release of World ID 2.0 and the open-sourcing of the iris recognition pipeline earlier this month.

The new verification locations include cities in Argentina, Chile, Spain, Germany and Japan, reflecting Worldcoin's commitment to providing secure and reliable identity verification services to a wider audience.

Furthermore, Worldcoin announced Wednesday that its World ID verification is now available in Singapore, allowing participants to easily verify their unique humanness using an Orb, a custom hardware device created by the crypto project.

Tools for Humanity, the main developer of Worldcoin, has also become a member of ACCESS and the Singapore Fintech Association (SCA), two of the most respected startup and tech associations in the country.

Worldcoin also shared the success of its efforts in expanding its activities, specifically, World ID verification in various cities worldwide.

"Last week, Sevilla and Bilbao joined a growing list of cities across Spain from Malaga to Mallorca to Madrid offering World ID verifications. Meanwhile, new launches in Cologne and Leipzig have brought Germany's list of cities with Orb locations to four (including Berlin and Nuremberg)," Worldcoin shared in a blog.

"In South America, access to World ID verifications in Chile has recently expanded to Concepcion, Curico and Viña del Mar (joining Santiago), and Argentina just set a new national record with over 10K verifications in a single day. Across the Pacific in Japan, the city of Fukuoka on Kyushu Island joins new locations in Tokyo available for proof of personhood verification via World ID," Worldcoin added.

Last week, it was reported that Worldcoin, the project co-founded by ChatGPT founder Sam Altman, paused its offline scanning activities in India, France, and Brazil, with plans to exit these countries just a few months after launching its Orb verification services.

Worldcoin's efforts seem to have been paying off slowly, with its crypto WLD seeing impressive gains over the past 30 days.

As of 12:44 p.m. ET on Wednesday, WLD was trading in the red zone at $3.67, with a 24-hour trading volume down by 29.99% at $160,079,320.

Worldcoin's latest price action represents a 0.46% dip in its value in the past 24 hours, a 1.74% spike over the last seven days, and a 4737% gain in the past 30 days.

Data from CoinMarketCap shows that Worldcoin's current circulating supply stands at 104,605,986 WLD, and its market cap is at $385,578,774.