Worldcoin, a cryptocurrency project aimed at distributing crypto with the help of an eye-scanning orbs, has secured $115 million in a Series C funding round, Reuters reports.
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The funding was led by Blockchain Capital with participation of a16z crypto, Bain Capital Crypto and Distributed Global. Tools for Humanity, the company behind Worldcoin, didn't disclose the project's valuation. The proceeds are said to be used for product expansion and hiring new employees.
In an interview with Bloomberg, Tools for Humanity CEO, Alex Blania, said the project has registered almost 2 million people.
In early May, Worldcoin introduced its standalone wallet called World App designed to bring digital identity and global finance in one product. The wallet has little support for crypto at launch compared to other digital wallets as it was designed to focus more on a "handful of key functionalities of Worldcoin and Ethereum." With the wallet, users can scan and store digitally their ID documents to access online services.
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