Worldcoin shifts focus to Asia for biometric tech
The move is driven by the regulatory scrutiny it faces in Europe, notably from Bavaria’s data protection authority.
Worldcoin is redirecting its attention from Europe to Asia, aiming to engage markets that are more receptive to its biometric technology. The company, co-founded by Sam Altman, seeks regions where local businesses and governments embrace innovative solutions. Fabian Bodensteiner, managing director of Worldcoin’s European operations, highlighted the need to prioritise markets that present the most significant business opportunities, as the company continues to navigate its limited workforce.
The shift comes amid regulatory scrutiny in Europe, with Bavaria’s data protection authority set to make a decision that could affect Worldcoin’s operations in the region. In May, Hong Kong’s privacy regulator found that Worldcoin had violated local privacy laws by excessively handling biometric data. However, a spokesperson for the Worldcoin Foundation asserted the company’s commitment to operating within legal frameworks concerning data collection and usage.
Despite stepping back from Europe as a primary focus, Worldcoin has expanded into Poland and Austria this year and maintains its presence in Germany. Bodensteiner affirmed the company’s intention to remain engaged in the European market, stating, “We want to stay in the conversation and we want to stay committed to the market.” As of now, Worldcoin is trading at $1.92, reflecting a 4.44% increase.