Worldcoin, the digital identity initiative co-founded by OpenAI's Sam Altman, is shifting its strategic focus from Europe to regions in Asia-Pacific and Latin America, as the company seeks to tap into markets more open to emerging technologies. According to Fabian Bodensteiner, managing director of Worldcoin Europe and a founding member of the team, these non-European regions present a more favorable landscape, prompting the project to prioritize countries like Japan, Malaysia, and Argentina.
Speaking at the Sifted Summit in late September, Bodensteiner explained that while Worldcoin continues to maintain a presence in Europe, its resources are being reallocated to regions with greater receptiveness. “We are not a 1,000-employee company, so we need to prioritize where the biggest business opportunities lie,” he stated, highlighting the growing momentum in Asia-Pacific and Latin America.
Worldcoin has made notable progress in these regions, especially in Malaysia, where the company is partnering with major game publishers to integrate its technology. Additionally, Worldcoin is collaborating with local institutions like Mimos, the national applied research center, focusing on educating businesses about the integration of its digital ID technology, known as World ID.
Despite this strategic pivot, Worldcoin has not abandoned Europe. The company remains engaged in discussions with European regulators, although it has encountered regulatory challenges. In July 2023, the Bavarian State Office for Data Protection Supervision (BayLDA) launched an investigation into Worldcoin’s biometric data collection practices, and several European countries have temporarily suspended the project due to privacy concerns. Nonetheless, Worldcoin recently launched in Poland and Austria, signaling its commitment to maintaining a presence in the region.
While awaiting regulatory decisions in Europe, Bodensteiner emphasized that Worldcoin is not retreating from the continent. "We want to make it work here; we don’t just want to leave Europe and dodge things," he said. The next few months will be crucial as the company balances its European regulatory hurdles with its accelerating expansion in Asia-Pacific and Latin America.
