A senior executive at Worldcoin, the digital identity project co-founded by OpenAI CEO Sam Altman, has revealed that the company is now focusing more on regions outside Europe, particularly Asia-Pacific (APAC) and Latin America (LATAM), where governments are more welcoming to new technologies.
Fabian Bodensteiner, Managing Director of Worldcoin Europe and a founding team member, said the company is prioritizing regions with greater growth opportunities. Speaking at the Sifted Summit, Bodensteiner explained that Europe’s market dynamics are not the primary focus for Worldcoin at the moment. He said:
“We’re seeing more potential in other parts of the world, and since we are not a huge company, we need to focus on regions with the most significant business opportunities.”
Worldcoin Focuses on APAC and LATAM Growth
Countries in the APAC region, such as Japan and Malaysia, as well as Latin American nations like Argentina, are leading the way in terms of adoption of Worldcoin’s technology. Bodensteiner mentioned that Worldcoin is working closely with major game publishers in APAC to integrate its digital identity tools into gaming platforms. He emphasized the goal of expanding both to consumers and local businesses in Malaysia, explaining the use of its “digital passport,” known as World ID.
Worldcoin is also collaborating with key organizations in Malaysia, including the national research body, Mimos, and the e-government services provider, MyEG Services, to increase local adoption.
Continued Commitment to the EU Market
While shifting its main focus to Asia and Latin America, Worldcoin is still operating within Europe, despite facing regulatory challenges. Launched in July 2023, the project uses iris biometrics technology developed by Tools for Humanity, co-founded by Altman, to build a decentralized global digital identity system.
Worldcoin’s evolving strategy reflects its aim to prioritize markets that are more receptive to emerging technologies, ensuring it remains flexible while continuing its mission to expand digital identity solutions worldwide.
Summary Review: While Worldcoin remains active in Europe, its primary focus has shifted to regions like Asia–Pacific and Latin America, where there is stronger support for emerging technologies. The company sees greater growth potential in these markets, particularly with partnerships in sectors like gaming and local government services. Worldcoin’s strategy reflects its goal of expanding digital identity solutions in areas that offer the best opportunities, while still maintaining a presence in Europe despite regulatory challenges.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
