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Malaysia’s MX Global Exchange Receives Regulatory Approval For Trading Worldcoin, A Biometric Crypto

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Worldcoin, founded by Sam Altman, receives boost in South East Asia after Malaysia's Securities Commission greenlights trading on MX Global.

Malaysian Crypto exchange MX Global has announced the approval of Worldcoin ($WLD) trading on its platform, after receiving the nod from the regulator Securities Commission Malaysia (SC) on 14 May 2024.

Once WLD goes live, the number of tokens available on MX Global will increase to five. Moreover, WLD token will be traded on SC recognized digital asset exchanges.

Malaysian Regulator Shows Support For Worldcoin

A filing issued by Cuscapi Bhd (company that invested in MX Global in March of 2022), revealed that the WLD token will now also be included in an updated list of permitted digital assets that can be traded on approved crypto exchanges operating within Malaysia.

At present, this full list includes a total of 13 tokens, including Bitcoin, Ethereum, Solana and Uniswap. The inclusion of Worldcoin will take that list to 14 tokens. The date for the WLD token to go live on the MX Global platform has not yet been revealed.

New Biometric Crypto On The Block

The WLD token was developed as a part of an iris biometric crypto project by tech company, Tools for Humanity, co-founded by Sam Altman, CEO of OpenAI – best known as the company behind ChatGPT.

WLD aims to build a biometric imaging device, named the Orb, to verify ‘Proof of Personhood’. The idea behind the endeavour is to be able to verify that you are a unique individual and human. According to the company, this will be done without having to divulge private information such as name, email address, phone number etc. The goal is to reduce the influx of bots and fake virtual identities that are created using artificial intelligence.

Individuals who sign up to the iris biometric project and have their irises scanned by the Orb are rewarded with free WLD tokens alongside a digital ID. To date, an estimated 157 million WLD tokens have been claimed by more than five million users who signed up for the project, according to the Worldcoin website.

WLD Token Price Statistics

WLD is trading at a price of $4.83 while transacting over $532 million in volume in the past 24 hours. With a circulating market cap of $1 billion and a Fully diluted valuation (FDV) of $48 billion, Worldcoin is the 85th ranked crypto by market cap, per CoinGecko.

Worldcoin, founded by Sam Altman, receives boost in South East Asia after Malaysia's Securities Commission greenlights trading on MX Global.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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