Thomas Daniels
Worldcoin, the crypto biometrics initiative co-founded by Sam Altman, is redirecting its growth strategy from Europe to Asia, seeking more receptive markets for its cutting-edge biometric technology. The decision comes as the company faces increasing regulatory challenges in Europe, particularly around data privacy issues.
In a recent interview with Sifted, Fabian Bodensteiner, managing director of Worldcoin’s European operations, explained the strategic shift. “I would not say that [Europe] is a large focus. We just see a larger dynamic in other regions of the world,” said Bodensteiner, emphasizing that limited resources drive the company to prioritize regions with the most promising business opportunities.
Worldcoin, developed by Tools For Humanity, faces scrutiny from Bavaria’s data protection authority, which is expected to announce a decision soon that could impact its operations across Europe. The startup, headquartered in San Francisco, has already encountered setbacks in Asia. In May, Hong Kong’s privacy regulator found that Worldcoin’s collection of biometric data violated local privacy laws. Privacy Commissioner Ada Chung Lai-ling criticized the company for gathering “unnecessary and excessive” face and iris images.
Despite these hurdles, Worldcoin continues to operate in select European markets, including Poland, Austria, and Germany, underscoring that Europe is not completely off the table. “We want to stay in the conversation and remain committed to the market,” Bodensteiner added.
As of this writing, Worldcoin’s token (WLD) has risen 4.44%, trading at $1.92.
