Worldcoin Developer In Talks With Paypal And Openai For Potential Partnerships

Tools For Humanity, the company behind Sam Altman’s altcoin project Worldcoin, is reportedly exploring partnerships with payments giant PayPal and AI firm OpenAI.

However, Bloomberg reports that details of the partnership between the three parties remain unclear and no specific plans have been announced.

Tools for Humanity, the company behind Worldcoin, was co-founded by OpenAI CEO Sam Altman. Previously, Tools for Humanity partnered with cybersecurity company Okta to enhance Worldcoin’s verification services.

Worldcoin aims to establish a global identity and financial network, providing human verification amidst the growing sophistication of AI technology. To date, 2.6 million people have signed up to scan their irises with Worldcoin in exchange for a digital identity and free cryptocurrency.

Worldcoin plans to launch an Ethereum Layer 2 called World Chain in the summer of 2024. The network is designed to enhance Worldcoin’s adoption and leverage Optimism’s Superchain ecosystem for scalability.

Worldcoin stated at the time of the announcement: “World Chain will be open to everyone and verifiers will receive priority block space over bots with a gas fee subsidy for regular transactions. The chain will be deeply integrated with the Worldcoin protocol to accelerate the development and adoption of World ID’s Proof of Personhood.”

Worldcoin has faced global opposition, with Portugal, Kenya, and Spain blocking the project from scanning their citizens’ irises. Additionally, six Worldcoin offices in Hong Kong were investigated for alleged serious privacy violations in early January 2024.

Despite the controversies, Worldcoin’s website has attracted nearly 5.1 million sign-ups across 120 countries, and more than 2,000 iris-scanning orbs have been produced.

Worldcoin further stirred controversy this week by announcing plans to sell tokens to non-US investors, potentially increasing the circulating supply of WLD by 19% over the next six months.

The WLD token is currently trading at $4.84 as of the morning of April 26. WLD has a circulating supply of 195.3 million and a market capitalization of $951.9 million.

Concurrently with the news, the blockchain data tracker Whale Alert detected that Paxos, the company behind PayPal’s stablecoin, has minted 100 million PYUSD, equivalent to approximately $99.7 million.

💵 💵 💵 💵 100,000,000 #PYUSD (99,720,483 USD) minted at Paxos Treasuryhttps://t.co/uJ408ttZOE

— Whale Alert (@whale_alert) April 25, 2024

This event has driven PYUSD’s market capitalization up by 40% as of writing, according to CoinMarketCap.

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