Worldcoin will start selling WLD tokens to institutions outside the United States

What’s new? The team of the Worldcoin crypto project intends to start gradually selling WLD native tokens through private placements to a select group of institutional investors outside the United States. The transactions will be handled by Worldcoin Foundation subsidiary World Assets, with assets for sale held in its treasury.

Press release

What else is known? The private placements will last for 6 months and the value of WLD within them will be as close to market value as possible. World Assets expects to sell an average of 0,5-1,5 million WLD per week (which is less than 0,1-0,4% of the current weekly trading volume), thus gradually increasing the circulating supply.

At the same time, buyers will be prohibited from reselling tokens to individuals in the US, including through local exchanges. World Assets can also set a 40-day blockchain for the coins. The project announced back at the launch that it would not be available in the US due to regulatory uncertainties in the crypto sector.

According to the company, sales are necessary to meet the growing demand for digital World IDs, which can only be obtained after a retina scan using Orb devices at Worldcoin offices located in countries around the world. In addition, new members of the Worldcoin financial system receive several WLD tokens for free.

The company reports that by April 23, more than 5 million people had received IDs, and more than 137 million WLD had been issued to users in 160 countries. This number represents the majority of coins in circulation (193 million WLD).

At the time of writing, WLD is ranked 98th in the overall ranking of cryptocurrencies with a capitalization of over $1 billion and is trading at $5,49, having lost 1,4% over the day. The weekly gain was 10,5% and the asset has added 51,11% since the beginning of the year.

Worldcoin has faced pressure from regulators in many countries around the world over potential breaches of data privacy laws. Last October, Kenyan authorities recommended that the project shut down operations in the country, and in December it stopped offering verification services in India, France, and Brazil.

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In March this year, the authorities also suspended operations in Spain and Portugal by order of the authorities. Worldcoin’s activities are being investigated by authorities in Hong Kong and South Korea.