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Worldcoin Taps JPMorgan-Backed Elliptic For World Chain Integration – Crypto News

Published

12 months ago

July 23, 2024

Dripp

Sam Altman’s Worldcoin has again made global headlines by partnering with the JPMorgan-backed blockchain analytics and crypto compliance solutions firm Elliptic. In an official statement released today, July 23, it was brought to global attention that World Chain, a blockchain that jacks up the Worldcoin project, is now being integrated into Elliptic’s suite of screening and investigation compliance solutions.

This partnership further strengthens Elliptic’s foothold as a crypto asset risk manager, underscoring the firm’s pioneering efforts in offering seamless services.

Elliptic Strengthens Foothold With Worldcoin Integration

The partnership underlines the JPMorgan-backed firm’s dedication to offering state-of-the-art compliance and analytics solutions across numerous blockchain networks. Further, the official announcement drew attention to World Chain’s positioning as a substantial evolutionary figure in the digital finance landscape.

For context, the blockchain’s distinguishable feature remains its human-centric design. It offers verified human users the leverage of precedence in blockspace allocation over bots. Moreover, it offers a gas allowance for casual transactions, simplifying everyday usage for users.

This unique approach further aligns with Elliptic’s vision to safeguard users and offer a seamless experience of the digital financial landscape. The Worldcoin project itself is a testament to revolutionizing the DeFi space, given its stance on prioritizing verified human users.

Also Read: Animoca-backed Upland’s SPARKLET Token Lists Exclusively on Bitget Launchpool

Execs Share Insights On The Partnership

The VP of Engineering at Elliptic, Lukasz Kujawa, stated, “I’m thrilled to partner with Worldcoin and integrate our innovative anti-money laundering platform. By combining Elliptic’s robust intelligence and cross-chain analysis with World ID’s secure humanness verification, we’re taking a major step forward in proactively preventing money laundering in the crypto space. Together, we’re making cryptocurrency safer and more trustworthy for everyone.”

Meanwhile, the head of blockchain at the Worldcoin Foundation, Remco Bloemen, proclaimed that “World Chain is designed as a blockchain for humans, and from day one more than 10 million people across 160 countries will be able to explore and use onchain apps through compatible wallets.”

Blockchain analytics service providers, such as the JPMorgan-backed Elliptic, will play a vital role in utilizing the World Chain’s full potential as it offers developers critical insights and tools for building on the network.

Meanwhile, the native token of Sam Altman’s crypto project traded alarmingly in the red zone today. WLD price rested at $2.28, a remarkable 5.28% dip over the past day. This slumping action comes in tandem with on-chain data indicating massive WLD token unlocks looming over the crypto horizon.

Also Read: VanEck Advisor Flags Risk of Coinbase As Majority Ethereum ETF Custodian

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