Worldcoin, the digital identity project co-founded by OpenAI CEO Sam Altman, is shifting its focus away from Europe and toward Asia and other regions, according to an executive.
Fabian Bodensteiner, managing director of Worldcoin Europe and a founding team member, stated that the project is concentrating on markets where governments are more open to adopting emerging technologies. Speaking at the Sifted Summit—a Financial Times-backed event centered on European startups—Bodensteiner emphasized that European markets are not a primary focus for Worldcoin at this time.
“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.”
Focus on APAC and LATAM Adoption
Bodensteiner pointed out that countries in the Asia-Pacific (APAC) region, particularly Japan and Malaysia, as well as Latin American jurisdictions like Argentina, show more promise for technology adoption.
He highlighted that Worldcoin is collaborating with several prominent game publishers in APAC to integrate its technology into their platforms.
“As we enter a market like Malaysia, the goal is not only to make it accessible to consumers,” Bodensteiner remarked. “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.”
Bodensteiner mentioned that Worldcoin is working with local platforms, including Malaysia’s national applied research and development center, Mimos, and the e-government services app, MyEG Services.
Commitment to the European Market
Despite its shift in focus toward other regions, Worldcoin continues its operations in Europe, although the project has faced challenges.
A spokesperson for the Worldcoin Foundation stated,
“The Worldcoin Foundation is committed to making ‘proof of human’ technology available to everyone in the world, including Europe.”
They added that the project has “deep and rich origins” within Germany and remains dedicated to the European market, as evidenced by recent launches in Austria and Poland and upcoming expansions within the EU.
Launched in July 2023, Worldcoin is a for-profit cryptocurrency project that utilizes iris biometrics developed by Tools for Humanity, co-founded by Altman.
In July 2023, the Bavarian State Office for Data Protection Supervision (BayLDA) initiated an investigation into Worldcoin, citing concerns regarding biometric data collection. The BayLDA is expected to deliver a regulatory decision on Worldcoin’s operations in Europe later in October.
Authorities in other European countries, including Spain and Portugal, temporarily suspended Worldcoin’s operations in 2024 due to concerns about processing sensitive data.
Despite these regulatory hurdles, Worldcoin successfully launched operations in Poland in September and began World ID verifications in Austria in July.
Bodensteiner reaffirmed the company’s commitment to engaging with European regulators:
“We want to make it work here; we don’t just want to leave Europe and dodge things.”
As Worldcoin shifts its strategic focus from Europe to regions with more favorable regulatory environments, it aims to leverage opportunities in the Asia-Pacific and Latin American markets. Despite challenges in Europe, the company remains dedicated to operating and complying with local regulations, ensuring that its innovative technology can benefit users globally.
| Key Updates on Worldcoin’s Strategy | Details |
|---|---|
| New Focus Regions | Asia-Pacific (APAC) and Latin America (LATAM) |
| Promising Countries | Japan, Malaysia, Argentina |
| Key Partnerships | Collaborating with game publishers and local platforms |
| Ongoing Operations in Europe | Committed to the European market despite challenges |
| Regulatory Investigations | BayLDA investigation in Germany; suspensions in Spain and Portugal |
| Recent Launches | Operations in Poland and World ID verifications in Austria |
Featured image credit: sasirin pamai via Vecteezy
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