World Network (WLD/USD) Soared Monday Amid Speculation of a Visa Deal

World Network (WLD/USD) was one of the cryptocurrency market's hottest coins Monday, amid speculation about a deal with Visa Inc. V to build a new stablecoin wallet.

World Network cryptocurrency (WLD/USD) was one of the hottest coins in the market on Monday, amid speculation about a deal with Visa Inc. (NYSE:V) to build a new stablecoin wallet.

What Happened: WLD, the native currency of the decentralized identity verification project, surged over 11%, becoming the fifth-most successful cryptocurrency in the last 24 hours.

The coin’s trading volume almost tripled to $234 million as the buying pressure pushed it to a two-week high of $0.94.

The rally outshone returns by market giants Bitcoin (BTC/USD) and Ethereum (ETH/USD), which increased 0.74% and 2.79%, respectively, in the last 24 hours.

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The uptick followed reports that the Sam Altman-founded platform was in talks with Visa to develop a stablecoin wallet and integrate it with the payments company’s massive customer base, according to CoinDesk.

World Network did not immediately respond to Benzinga’s request for comment on the matter.

World Network collects people’s irises to authenticate their humanness and create a digital ID, making them eligible to receive free WLD tokens

However, the project has been met with backlash over concerns of personal data privacy. It has been banned in Hong Kong, Kenya, and Spain.

Price Action: At the time of writing, WLD was trading at $0.9146, up 11.58% in the last 24 hours, according to data by Benzinga Pro. Year-to-date, the cryptocurrency is down 56%.

Shares of Visa closed 2.45% lower at $343.87 during Monday’s regular trading session.

The stock displayed exceptionally high momentum but lagged in growth at the time of press. Check how its close competitor Mastercard Inc (NYSE:MA) performs on these indicators using Benzinga’s proprietary Edge Rankings score.