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An exec said Worldcoin is seeing a “larger dynamic” in non-European countries, including those in the Asia-Pacific region and Latin American jurisdictions.
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Worldcoin, the digital identity project co-founded by OpenAI CEO Sam Altman, is shifting its focus from Europe to prioritize adoption in Asia and other regions, according to an executive.
Fabian Bodensteiner, managing director of Worldcoin Europe and a founding team member, said Worldcoin is concentrating on markets where governments are more open to emerging technologies.
Speaking at the Sifted Summit — a Financial Times-backed event focused on European startups — Bodensteiner reportedly claimed that European markets are not a large focus for Worldcoin. He stated:
“We just see a larger dynamic in other regions of the world and because we’re not 1,000 employees we need to prioritize where we see the biggest business opportunities.”
Worldcoin focuses on APAC and LATAM adoption
According to Bodensteiner, countries in the Asia-Pacific (APAC) region, such as Japan and Malaysia, and Latin American jurisdictions like Argentina, look more promising in terms of technology adoption.
He noted that Worldcoin is working with several prominent game publishers in APAC to integrate Worldcoin’s technology into their platforms.
Worldcoin’s first World ID verification in Argentina. Source: Worldcoin
“As we enter a market like Malaysia, the goal is not only to make it accessible to consumers,” Bodensteiner said in late September on Worldcoin’s entry to the market. He noted that Worldcoin’s presence in the country is also about reaching out to local businesses and explaining the concept of integrating its “digital passport” known as World ID.
He also mentioned that Worldcoin is collaborating with local platforms, including Malaysia’s national applied research and development center, Mimos Bhd and the e-government services app, MyEG Services Bhd.
Worldcoin remains committed to the European market
Despite shifting focus to other regions, Worldcoin continues its operations in Europe, though the project has faced challenges in the region.
Launched in July 2023, Worldcoin is a for-profit cryptocurrency project that uses iris biometrics developed by Tools for Humanity, co-founded by Altman.
Related: Singapore probes illegal Worldcoin accounts and token sales
Shortly after the launch, a German data protection authority, the Bavarian State Office for Data Protection Supervision (BayLDA), initiated a probe against Worldcoin in July 2023, citing concerns over biometric data collection. The BayLDA is reportedly expected to deliver a regulatory decision on Worldcoin’s operations in Europe later in October.
Fabian Bodensteiner (left) and Phillip Sippl. Source: NN Group
Authorities in other European countries like Spain and Portugal also temporarily suspended Worldcoin operations in 2024 over concerns about processing sensitive data.
However, Worldcoin successfully launched operations in Poland in September and also started World ID verifications in Austria in July.
Despite seeing difficulties in Europe, Worldcoin remains committed to the conversation with European regulators, according to Bodensteiner.
“We want to make it work here, we don’t just want to leave Europe and dodge things,” the executive noted.
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This article first appeared at Cointelegraph.com News
