- MX Global authorized by Malaysia’s Securities Commission to trade Worldcoin (WLD) alongside major cryptocurrencies.
- Cuscapi invests $11.3 million in MX Global’s preference shares; also backed by Binance.
- Worldcoin uses iris biometrics for unique digital IDs, raising privacy concerns globally.
Digital solutions company Cuscapi Bhd has revealed that its subsidiary, MX Global Sdn Bhd, received authorization from the Securities Commission Malaysia to include the Worldcoin (WLD) token in its offerings on approved digital asset exchanges.
According to a recent stock exchange announcement by Cuscapi, WLD will be added to an approved list of tradable digital assets, joining the likes of bitcoin (BTC), bitcoin cash (BCH), Cardano (ADA), Chainlink (LINK), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Solana (SOL), Uniswap (UNI), Avalanche (AVAX), Polygon (MATIC), Polkadot (DOT), and Cosmos (ATOM).
MX Global is one of the six recognized market operators for digital asset exchanges (RMO-DAX) in Malaysia, having been granted operational approval by the SC in July 2021.
In March 2022, MX Global secured an investment from the cryptocurrency exchange Binance, the amount of which was not disclosed. Furthermore, Cuscapi has invested $11.3 million (about RM9 million) in acquiring redeemable convertible preference shares (RCPS) in the company.
The value of a single Worldcoin (WLD) token on Binance is currently around $5.58, or approximately RM33.14, a notable increase from its value of $2.50 at the end of December.
Worldcoin, developed by Tools of Humanity, is a digital currency project that integrates iris biometrics for user identification. The project uses “orb” devices to conduct iris scans, offering participants a unique digital ID and free WLD tokens. The project’s primary objective is to provide a reliable method for authenticating human identities online via World ID, aiming to reduce the incidence of AI-generated bots and fake online identities. According to the project’s official data, over five million people from 120 countries have participated.
The company has also transitioned to its proprietary World Chain, detailing its progression from Hubble through OP Mainnet to its current Layer 2 protocol in a recent blog post.
However, the project has raised privacy concerns in various countries. Notably, in March, Portugal’s data protection authority, the CNPD, ordered a temporary halt to the collection of biometric data for 90 days. The CNPD cited significant risks to the data protection rights of citizens, calling for immediate measures to prevent potential harm. The directive highlighted that over 300,000 people in Portugal have already had their biometric data collected by the project.
