Sunday, June 4, 2023

Worldcoin to raise $115 million for its decentralised project

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As reported by Cointelegraph, Worldcoin, a crypto project, is expected to raise about $115 million during the Series C round headed by Blockchain Capital. This amount is expected to be used to support the decentralised World ID and World App, a crypto wallet, launched recently.

Sources revealed that Venture capital firms such as Andreessen Horowitz, Bain Capital Crypto, and Distributed Global will also invest in this project, Cointelegraph highlighted. 

“During the age of AI, we need decentralised, privacy-preserving solutions that can prove humanness online and empower people across the world to take control of their identity and finances. The additional resources will help us continue to build and launch accessible and inclusive tools and technologies that provide opportunities for everyone in the world to fully participate in the growing digital and global economy,” Akarsh Sanghi, head of product and business operations, Tools for Humanity, explained. 

According to the company, at present Worldcoin is available in beta version and has about two million plus users. Furthermore, it might launch a blockchain protocol and keep track of the transactions in the coming weeks, Cointelegraph concluded. 

(With insights from Cointelegraph)

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