Worldcoin: Argentina Is Our New LATAM Center of Operations

Worldcoin

says it will make Argentina its “regional operations center,” and will expand its presence in the country and the wider LATAM region.

Per the media outlet Criptonoticias, the firm, which operates the WLD token, says it will open iris-scanning offices “in 50 locations” “in more than 10 cities in Argentina.”

New Worldcoin Argentina Expansion Plans

Worldcoin executives met with top government officials in Buenos Aires earlier this year. They have also met with President Javier Milei. These talks appear to have laid the groundwork for the new move.

The altcoin’s representatives have scanned the irises of more than half a million Argentines in just 10 months.

While this has provoked no shortage of controversy for lawmakers and government regulators, long lines have formed outside Worldcoin centers nationwide.

🌏Worldcoin will continue to halt operations in Spain through the end of 2024 or until a GDPR compliance audit by BayLDA is completed.#worldcoin #cryptohttps://t.co/ur4OkbdCwk

— Cryptonews.com (@cryptonews) June 5, 2024

An unofficial Worldcoin reselling industry has also sprung up, with many WLD recipients swapping their coins for fiat at “50% of their market value.”

The firm says it plans to turn Argentina into the “nerve center” of its operations in the Latin American region.

Officials said Worldcoin will also open two centers where citizens “will be able to learn about the technology and discover more about the project.”

Worldcoin said that the decision to focus on Argentina was made after a meeting with Milei in San Francisco, California.

Argentine police fired tear gas and water cannon at rioting demonstrators protesting in Buenos Aires on Wednesday against proposed economic reformshttps://t.co/aLe13CT8lu pic.twitter.com/O9qbMFMNlh

— AFP News Agency (@AFP) June 13, 2024

Argentina a Natural Choice, Says Operator

Martín Mazza, the regional manager of the Worldcoin operator Tools for Humanity, said that Argentina was a natural choice.

Mazza said that the nation’s advanced “technological ecosystem” and highly qualified workforce made it “an ideal place for the development of […] artificial intelligence.”

Additionally, Mazza said that Buenos Aires will become “a regional center.” He added that Tools For Humanity wants to “deepen its collaboration with the Argentinean community.”

Inflation in Argentina continues to fall. According to PriceStats, the monthly inflation rate is now close to 5%.

La inflación de Argentina sigue cayendo. La tasa mensual medida por PriceStats esta cerca del 5%, con tendencia decreciente. pic.twitter.com/mo0eUUtZ4F

— Alberto Cavallo (@albertocavallo) May 1, 2024

Such a move, he said, would “promote the development of AI and financial inclusion in the country.”

The executive concluded that the decision to focus on Argentina “underlines the strategic importance of Latin America for Worldcoin” as the project “targets further growth.”

As well as Argentina, WLD is also gaining traction fast in other Latin American nations like Chile, Peru, Colombia, and Mexico.

In April, the firm also announced expansion plans for Mexico, where it began operating in July 2023.