Thursday, 30 March 2023

Standard Chartered partners with Sandbox to create metaverse experience

5 min read

Standard Chartered Bank (Hong Kong) or (SCBHK) announced a new partnership with The Sandbox, a leading decentralised gaming virtual world to create innovative experiences for our clients and the community.

SCBHK is the first bank to acquire virtual land at The Sandbox metaverse’s Mega City district, a culture hub based on or inspired by Hong Kong talents.

Led by SC Ventures, Standard Chartered Group’s innovation, fintech investment and ventures arm, SCBHK will actively engage its clients, partners, staff, and the tech community to explore co-creation opportunities in this new and exciting space, with the goal of experimenting and building new experiences for clients, as well as bringing the local sports and art communities into the metaverse.

Mary Huen, CEO of SCBHK said, “The metaverse is a vision for the next phase in the internet’s evolution, bringing new possibilities and unique experiences through the use of immersive technologies. Our involvement in the metaverse allows us to reimagine our relationship with existing and potential clients on this new platform and our approach to enhance client journeys. Having acquired virtual land in Mega City, a natural choice for the bank given its distinctive Hong Kong theme, perfectly fits with our promise of strengthening our continued presence in Hong Kong, whether physical or virtual”.

Alex Manson, head of SC Ventures at Standard Chartered said, “For the past few years, we have been building business models in crypto, digital assets and see the rise of the metaverse as a critical milestone in the Web 3.0 evolution. We are excited for this opportunity to explore and innovate in partnership with The Sandbox, but also with our clients and partners who will play a crucial role in how this space develops”.

SC Ventures has been investing in disruptive financial technology and exploring alternative business models for the bank. The innovation arm will continue to drive the bank’s entrance into the metaverse and exploration of future Web 3.0 opportunities.

Re-disseminated by The Asian Banker

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