CryptoWallCity vs MEXC Exchange

Standard Chartered Bank chooses The Sandbox to participate in Metaverse

Standard Chartered Bank announced on Tuesday that its subsidiary, Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), has partnered with The Sandbox, a popular metaverse platform, “to create new experiences.”

Standard Chartered is a leading global bank with 85,000 employees serving clients in nearly 150 markets worldwide, with 776 branches globally.

The bank said that it was the first bank to acquire “virtual land in the Mega City area of ​​The Sandbox metaverse, a cultural hub inspired by Hong Kong talent.” The initiative is led by SC Ventures, the innovation arm, fintech investment and joint venture of Standard Chartered Group.

Detailed notice:

SCBHK will actively engage its customers, partners, employees and tech community to explore co-creation opportunities in this new and exciting space.

The bank aims to test and build new experiences for customers, as well as bring “local sports and arts communities into the metaverse,” the announcement added.

Alex Manson, head of Standard Chartered’s SC Ventures, commented:

Over the past few years, we have built business models in crypto and digital assets and see the rise of the metaverse as an important milestone in the evolution of Web3.0.”

Other major banks and financial services firms that have joined the metaverse include JPMorgan, HSBC and Fidelity Investments. HSBC also partnered with The Sandbox to enter the metaverse, while JPMorgan and Fidelity chose Decentraland.

Metaverse is expected to thrive in the future. Last month, Citi predicted the metaverse could represent a $13 trillion opportunity with 5 billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley both believe the metaverse could represent a valuable opportunity with 8 trillion dollars.