SC Approves Worldcoin Token For Trading On MX Global

Alex Cheong Pui Yin

14th May 2024 - 2 min read

Crypto exchange MX Global said that it has received greenlight from the Securities Commission Malaysia (SC) to facilitate the trading of the Worldcoin (WLD) token on its platform. Once rolled out, this will increase the number of offerings on MX Global to a total of five supported digital assets.

In a bourse filing issued by Cuscapi Bhd – who invested in MX Global back in 2022 – it was noted that with this update, the WLD token will now also be included in the list of permitted digital assets that can be traded on approved crypto exchanges operating in Malaysia. At present, this full list includes a total of 13 tokens, including Bitcoin (BTC) and various other alternative coins (altcoins) like Ether (ETH), Solana (SOL), and Uniswap (UNI).

That said, MX Global has yet to reveal when it will be enabling the trade of the WLD token on its platform. As one of the six recognised digital asset exchanges (DAX) in Malaysia, it currently supports the trading of four tokens, namely Bitcoin (BTC), Ether (ETH), Ripple (XRP), and Solana (SOL).

As for the WLD token, it is a digital coin that was developed as part of an iris biometric crypto project by tech company Tools for Humanity, which is co-founded by Sam Altman. Altman is also, famously, the chief executive officer of OpenAI, which developed ChatGPT.

The iris biometric crypto project, meanwhile, aims to build a biometric imaging device – called the Orb – to verify Proof of Personhood (indicating that you’re an unique individual and human) without having to divulge private information, like your name, email addresses, phone numbers, and social profiles. This, in turn, is expected to help counter bots and fake virtual identities that are created using artificial intelligence (AI).

Individuals who participate in the iris biometric crypto project and have their irises scanned by the Orb are rewarded with free WLD tokens, on top of a digital ID. To date, an estimated 157 million WLD tokens have been claimed by more than five million users who signed up for the project, according to the Worldcoin website.

Value-wise, the WLD token is priced at US$5.34 (approximately RM25.20) at the time of writing, as reported on CoinDesk.

(Sources: FintechNews Malaysia, Bursa Malaysia, The Edge Malaysia)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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