Standard Chartered Bank is the most recent significant financial institution to join the metaverse. Virtual land at The Sandbox metaverse’s Mega-City neighborhood, a culture center based on or inspired by Hong Kong talents.
Ventures into the Metaverse by Standard Chartered Bank
Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), a subsidiary of Standard Chartered Bank, stated that it has teamed up with The Sandbox, a prominent blockchain virtual game platform, “to develop a metaverse experience.”
It is the first bank to acquire “virtual land at The Sandbox metaverse’s Mega-City neighborhood, a culture center based on or inspired by Hong Kong talents,” according to the bank. SC Ventures, the Standard Chartered Group’s innovation, fintech investment, and ventures arm, is leading the endeavor.
The following are the specifics of the announcement:
SCBHK will aggressively engage its clients, partners, employees, and the IT community in this new and exciting space to explore co-creation prospects.
The bank wants to try new things and provide customers with new experiences, as well as incorporate “local sports and art communities into the metaverse,” according to the release.
Alex Manson, the head of SC Ventures at Standard Chartered, said:
We’ve been developing business models in crypto and digital assets for a few years now, and we see the advent of the metaverse as a significant turning point in Web3.0 growth.
About Standard Chartered Bank
Standard Chartered plc, headquartered in London, England, is a British multinational banking and financial services corporation. It employs roughly 87,000 people and has a network of more than 1,200 branches and outlets (including subsidiaries, affiliates, and joint ventures) in more than 70 countries. It is a universal bank with the consumer, business, and institutional banking, as well as treasury services, as well as treasury services. Despite its UK origin, it does not handle retail banking in the UK, Asia, Africa, and the Middle East account for over 90% of its profits.
Standard Chartered is a constituent of the FTSE 100 Index and has its primary listing on the London Stock Exchange. It is listed on the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets as a secondary listing. Temasek Holdings, which is owned by the Singapore government, is the company’s main stakeholder. It is classified as a systemically important bank by the Financial Stability Board.
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