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.

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

The coin's trading volume nearly tripled to $234 million, as the buying pressure tossed it to a two-week high of $0.94.

The rally outshone returns by market heavyweights Bitcoin BTC/USD and Ethereum ETH/USD, which grew 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 integrated with the payments giant’s massive customer base, according to CoinDesk.

The World Network didn’t immediately return Benzinga’s request for comment on the matter.

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

However, the project has been mired in controversy 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 exchanging hands at $0.9146, up 11.58% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the cryptocurrency has plummeted 56%.

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

The stock demonstrated significantly high momentum but lagged in growth as of this writing. Check how its close rival Mastercard Inc. MA performs on these indicators using Benzinga's proprietary Edge Rankings score.

Image by CryptoFX on Shutterstock

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