Unlimit Integrates With World App to Facilitate WLD Conversion in Colombia, Mexico, and Europe

British fintech company Unlimit has integrated with World App to facilitate the conversion of Worldcoin into local fiat currencies for users in Colombia, Mexico, and select European regions.

British fintech company Unlimit has integrated with World App to facilitate the conversion of Worldcoin into local fiat currencies for users in Colombia, Mexico, and select European regions.

This strategic partnership supports World Chain, a layer-2 solution focused on human-centric financial products. The integration will allow Worldcoin holders in these regions to easily convert the token and stablecoins into local currencies.

Unlimit, headquartered in London, enables transfers between crypto wallets and bank accounts across Latin America, Asia-Pacific, Europe, the Middle East, and Africa.

Worldcoin's Expansion in Latin America

"Worldcoin is a very important and impactful project for not only crypto but technology as a whole and futurism as well," said Bryan Feng, Head of Unlimit Crypto, highlighting the significance of the integration.

"We're very grateful to be working with such a great team and foundation to serve users around the world getting their first experience in the crypto ecosystem," he added.

Worldcoin, co-founded by Sam Altman, Alex Blania, and Max Novendstern in 2019, aims to create a global, privacy-preserving financial network by distributing WLD through iris scans using a device called the "orb."

In May 2023, Worldcoin secured $115 million in a Series C funding round led by Blockchain Capital, with participation from Andreessen Horowitz's a16z fund, Bain Capital Crypto, and Distributed Global.

Controversies and Challenges Despite strong investor support, Worldcoin has faced mounting controversies, including allegations of insider trading and market manipulation.

"This is the biggest scam token of the bull run," described one analyst. On-chain analyst DeFi Squared has highlighted that less than 3% of WLD tokens are in circulation.

While Worldcoin ranks as the 103rd-largest cryptocurrency by market capitalization at $648 million, its fully diluted market cap stands at a substantial $22.4 billion, raising concerns about value dilution as more tokens become available.

DeFi Squared has also suggested that the Worldcoin team may be manipulating the token's price to maintain a $30 billion fully diluted valuation.

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