Standard Chartered Bank announced that its subsidiary, Standard Chartered Bank (Hong Kong) Ltd. (SCBHK) has partnered with The Sandbox, a popular virtual blockchain gaming platform.
Standard Chartered is a leading global bank with 85,000 employees serving customers in nearly 150 markets around the world. The organization has 776 branches around the world.
In addition, the bank has acquired “virtual land in the metropolitan area of The Sandbox, a cultural center founded or inspired by Hong Kong talent.” The initiative is led by SC Ventures, the innovation, financial technology investment and venture capital arm of Standard Chartered Group.
SCBHK will actively engage its customers, partners, employees and the tech community to explore co-creation opportunities in this new and exciting space,” the company said.
The bank’s leadership is committed to experimenting and creating new experiences for customers, as well as engaging “the local sports and arts communities in the metacommunity.”
Over the last few years, we’ve been building business models in crypto, digital assets and see the growth of the metaverse as a critical milestone in the evolution of Web3.0,” said Alex Manson, head of SC Ventures at Standard Chartered.
Other major banks and financial services firms — JPMorgan, HSBC and Fidelity Investments — have also entered the metaverse.
In March, Citi analysts predicted that by 2030, the capitalization of the metaverse could reach $13 trillion with 5 billion users.