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Home»ADOPTION NEWS»World Assets Ltd. extends lending agreement with trading company to place 10 million WLD tokens in circulation.
ADOPTION NEWS

World Assets Ltd. extends lending agreement with trading company to place 10 million WLD tokens in circulation.

By Crypto FlexsMay 31, 20242 Mins Read
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World Assets Ltd. extends lending agreement with trading company to place 10 million WLD tokens in circulation.
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World Assets Ltd., a subsidiary of the Worldcoin Foundation, announced the extension of lending agreements with five trading companies, which will result in 10 million Worldcoin (WLD) tokens being distributed by June 14, 2025, according to Worldcoin.

Loan contract extension

The loan agreement, originally scheduled to expire on June 14, 2024, was concluded on December 16, 2023 and involved five trading entities operating outside the United States. Under these agreements, each company received a loan totaling 10 million WLD tokens. The extension keeps all other terms unchanged, meaning the company must return the entire loan amount by the new expiration date.

Impact on Circulating Supply

The decision to extend means that the 10 million WLD tokens on loan will continue to be part of the circulating supply. This move is important as it affects the total amount of WLD available on the market, which currently stands at 223 million tokens. Of these, 167 million WLDs were distributed through user subsidies in accordance with local regulations.

Worldcoin’s wider ecosystem

Worldcoin aims to provide humanity with the tools to navigate the era of artificial intelligence. One of its flagship projects, World ID, is a secure digital passport with over 5.4 million Orb-verified users. This ID allows individuals to prove their identity online, increasing security and privacy.

Notwithstanding the limited availability of WLD tokens in the United States and certain other regions, Worldcoin-related services, including World ID and Tools for Humanity’s World App, will remain accessible in the United States. This will ensure that the wider ecosystem continues to serve its user base effectively.

Regulatory considerations

It is important to remember that WLD tokens cannot be used by residents or entities in the United States or other restricted territories. However, the extension of the loan agreement highlights World Assets Ltd.’s commitment to maintaining liquidity and stability within its permitted markets.

The continuous circulation of these tokens ensures that trading firms can operate with the liquidity they need, potentially promoting market stability and trust among investors and users.

Worldcoin’s proactive actions to expand these contracts reflect a strategic approach that supports its broader mission to manage circulating supply and promote a secure and accessible digital future.

Image source: Shutterstock

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