SAN FRANCISCO, CA – 02/08/2024 – (SeaPRwire) – In an ambitious move to reshape the global financial landscape, Unlimit, a pioneering fintech company, has announced its latest strategic initiative: a comprehensive integration with Tools for Humanity’s World App and the support of the World Chain blockchain network. This collaboration aims to enhance accessibility and ease of use for Worldcoin (WLD) users, particularly in regions like Colombia, Mexico, and parts of Europe, by simplifying the conversion between digital and fiat currencies.
The global financial system is often plagued by inefficiencies and high costs, leaving many without access to essential services. The World Bank estimates that around 1.4 billion adults remain excluded from formal financial systems worldwide. This exclusion hinders the adoption and growth of innovative crypto projects, as users struggle with limited infrastructure and stringent regulatory barriers, making the transition from cryptocurrency to traditional fiat currencies challenging.
Unlimit’s integration offers a seamless on-and off-ramp solution, bridging the gap between blockchain wallets and traditional bank accounts. By leveraging its extensive network and expertise in regions such as Latin America, the Asia-Pacific, Europe, the Middle East, and Africa, Unlimit provides localized payment solutions tailored to specific market needs. These solutions are crucial for businesses looking to expand into new territories that are often underserved by other financial service providers.
The partnership aligns closely with Unlimit’s mission to promote financial inclusion on a global scale. Worldcoin, co-founded by notable figures such as Sam Altman, Alex Blania, and Max Novendstern, is designed to be a large-scale, privacy-preserving identity and financial network. The Worldcoin ecosystem, including World Chain and the World App, aims to provide universal access to economic opportunities, irrespective of geographical and economic barriers.
The deployment of Unlimit’s crypto solutions on the World Chain network marks a significant step forward. It allows users of the World App to effortlessly convert Worldcoin (WLD) and other stablecoins into their local fiat currencies, with the proceeds directly deposited into their bank accounts. This functionality not only simplifies the process of accessing financial services but also enhances the usability of digital currencies in everyday transactions.
Since its launch last year, the World App has seen remarkable adoption. Over 10 million individuals across 160 countries have created a World ID and a compatible wallet. To date, these users have collectively conducted more than 115 million transactions, demonstrating the platform’s strong appeal and practical utility. The integration of Unlimit’s services is expected to further accelerate this growth by opening new fiat channels and facilitating smoother transactions, particularly in underserved markets in Europe, Africa, and Latin America.
Bryan Feng, Head of Unlimit Crypto, expressed his enthusiasm about the integration’s potential impact. “The rapid global adoption of Worldcoin is impressive, and we are excited to facilitate a seamless payment experience between traditional financial systems and innovative blockchain solutions like World Chain. The vision we’ve held for blockchain payments is now becoming a reality,” he remarked.
This partnership not only enhances the functionality and reach of Worldcoin but also supports Unlimit’s broader goal of breaking down financial barriers and empowering individuals worldwide. By integrating advanced blockchain technology with practical financial tools, Unlimit and Tools for Humanity are working together to create a more inclusive financial future.
About Unlimit
Founded in 2009, Unlimit is a global fintech leader offering a wide range of financial services. These include payment processing, banking as a service (BaaS), and a comprehensive onramp solution for crypto, DeFi, and GameFi sectors. Unlimit is committed to eliminating financial borders, making it easier for businesses to operate seamlessly both locally and internationally. With a team of 500 employees spread across 16 offices on five continents—including key locations in London, Singapore, São Paulo, Hong Kong, and Mexico—Unlimit continues to expand its global footprint. For more information, visit www.unlimit.com.
About World Chain
World Chain is an advanced layer-2 blockchain network developed to democratize access to blockchain technology and its benefits. Built on the OP Stack and integrated with the Worldcoin protocol, World Chain is secured by Ethereum as a Layer 2 solution and designed for scalability as part of the Superchain ecosystem. Managed by the Worldcoin Foundation, World Chain is uniquely equipped with World ID’s proof of personhood and focuses on areas such as stablecoin finance, international remittances, and commerce. The platform offers a gateway to real-world utility applications via compatible wallets, starting with the World App. The Worldcoin Foundation aims to foster more inclusive and equitable institutions of governance and digital economy on a global scale.
SOURCE: Unlimit
by Arrow123
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