Worldcoin's crypto wallet claims more than 1 million monthly active users

World App, the crypto wallet launched by Sam Altman's Worldcoin WLD -8.74% project just six months ago, has reported having over 1 million monthly active users — placing it among the most popular crypto wallets in the industry.

It also claims more than 500,000 weekly active users and over 100,000 daily active users, according to data released on Wednesday by Worldcoin's lead developer, Tools for Humanity. World App has now surpassed four million total downloads, ranking it as the sixth most popular crypto hot wallet for self-custody, according to CoinGecko's rankings, TFH said. World App users have also conducted more than 22 million transactions, TFH added.

The news of these milestones comes at a time when an increasing number of governments worldwide are scrutinizing Worldcoin, including the U.K., France, Germany, and Argentina. Kenya has suspended the project in the country. Government agencies have expressed concerns about Worldcoin's data collection practices via "orbs" — the devices Worldcoin utilizes to allow users to scan their eyeballs for verification and obtain a World ID. Worldcoin rewards users with its native WLD token for verification. Worldcoin has said that it deletes or securely stores biometric data in encrypted form and is committed to cooperating with regulatory authorities.

World App starts with World ID, which helps users prove they are unique humans in the age of artificial intelligence without sharing personal data like names or emails. They can then use the app to save and send Circle's USDC stablecoin and trade crypto via the Uniswap decentralized exchange protocol.

Worldcoin has said World App is designed for simplicity and inclusivity, supporting multiple languages and most active smartphones. The project said it will support more local languages and currencies soon.

"It's inspiring to see so much excitement around the world in less than six months since launching World App," Tiago Sada, the head of product at TFH, said in a statement. "The team has been heads down working on meeting the current demand, and as the need for digital identity and digital finance continues to become more pressing, we know this is just the beginning."