FB pixel

Tools for Humanity acquires digital wallet developer to build up World App

Tools for Humanity acquires digital wallet developer to build up World App

Digital wallet startup Ottr Finance has been acquired by Worldcoin ecosystem developer Tools for Humanity, to work on the World App.

Aleksei Zakharov, Ottr Finance CEO, says in a Medium post on the acquisition that the deal combines the respective expertise of the two teams to deliver benefits in digital identity and finance.

Ottr Finance was founded only 18 months ago, and is made up of a team of seven people. Their self-custody wallet has racked up more than 25,000 monthly users with U.S. bank integration the company says is seamless, gas-free transfers and trading, passwordless cloud backup, and its own dApp store.

Many of the hundreds of thousands of people being onboarded by Worldcoin are new to web3, the company points out.

The World App digital wallet and consumer application is up to 3 million monthly users, and its development will now be led by Ottr Finance.

The company will now sunset its Ottr Wallet to focus solely on the World App.

The terms of the acquisition were not disclosed.

Tools for Humanity recently struck a deal to integrate World ID with super app Kresus, which includes a digital wallet.

Worldcoin’s ecosystem developments efforts have included a grant program that recently selected 28 developers’ projects.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News


HHS removes Login.gov from grantee payment system after cyberattack

The U.S. Department of Health and Human Services has removed Login.gov from its grantee payment platform after a security breach…


City of Clemson pilots Intellicheck ID verification to prevent underage drinking

Identity verification provider Intellicheck and the city of Clemson have launched a 12 month pilot program that uses identity verification…


Rumors of liveness detection’s defeat have been greatly exaggerated

Photo and video face filters are perhaps the most mainstream use case for augmented reality –  and an illustrative test…


Companies House takes new measures to fraud fight, but not biometric IDV

Companies House, the UK’s business registry, has begun rolling out new tools to fight fraud and help cleanse the register…


Mitek: quarterlies, annuals, SEC actions

April 4, 2024 – Mitek is getting back on track with its financial reporting, which may be more reflective of the…


Jamaica parliament soon to receive draft digital ID regulation for scrutiny

Plans are being finalized to send the draft regulation on Jamaica’s digital ID program to the country’s parliament for examination…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read From This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events