The Worldcoin logo on a smartphone arranged in Germantown, New York. Image Credit: Bloomberg

Britain's data regulator said on Tuesday it will examine Worldcoin, a project by OpenAI CEO Sam Altman where users provide their iris scans in exchange for a digital identification and free cryptocurrency.

"We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the Information Commissioner's Office told Reuters.

Worldcoin launched on Monday with two million users from its trial, with the crypto project scaling up eyeball-scanning operations in 20 countries, including at sites in London.

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Described on its website as a "new identity and financial network", the Worldcoin project assigns people who sign up a digital ID which it says would distinguish humans from artificial intelligence online.

Its cryptocurrency, called the Worldcoin token, will be allocated to users who sign up in some countries, according to the website.

The Worldcoin token initially rose after its launch on Monday, hitting a peak of $3.30, and on Tuesday was at $2.01 according to market tracker CoinGecko.