{"id":63926,"date":"2022-04-26T09:01:16","date_gmt":"2022-04-26T09:01:16","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=63926"},"modified":"2022-04-26T09:01:16","modified_gmt":"2022-04-26T09:01:16","slug":"standard-chartered-bank-enters-the-metaverse","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=63926","title":{"rendered":"Standard Chartered Bank Enters the Metaverse"},"content":{"rendered":"

\"Standard<\/p>\n

Standard Chartered Bank has become the latest major bank to enter the metaverse. The bank has acquired \u201cvirtual land at The Sandbox metaverse\u2019s Mega City district, a culture hub based on or inspired by Hong Kong talents.\u201d<\/strong><\/p>\n

Standard Chartered Bank Forays Into the Metaverse<\/h2>\n

Standard Chartered Bank announced Tuesday that its subsidiary, Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), has partnered with The Sandbox, a popular blockchain virtual gaming platform, \u201cto create [a] metaverse experience.\u201d<\/p>\n

Standard Chartered is a leading global bank with 85,000 employees serving customers in close to 150 markets worldwide. It has 776 branches globally.<\/p>\n

The bank explained that it is the first bank to acquire \u201cvirtual land at The Sandbox metaverse\u2019s Mega City district, a culture hub based on or inspired by Hong Kong talents.\u201d The initiative is led by SC Ventures, Standard Chartered Group\u2019s innovation, fintech investment, and ventures arm.<\/p>\n

The announcement details:<\/p>\n

\n

SCBHK will actively engage its clients, partners, staff, and the tech community, to explore co-creation opportunities in this new and exciting space.<\/p>\n<\/blockquote>\n

The bank aims to experiment and build new experiences for clients, as well as bring \u201cthe local sports and art communities into the metaverse,\u201d the announcement adds.<\/p>\n

Alex Manson, head of Standard Chartered\u2019s SC Ventures, commented:<\/p>\n

\n

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 Web3.0 evolution.<\/p>\n<\/blockquote>\n

Other major banks and financial services firms that have entered the metaverse include JPMorgan, HSBC, and Fidelity Investments. HSBC<\/a> also partnered with The Sandbox to step into the metaverse, while JPMorgan<\/a> and Fidelity<\/a> chose Decentraland.<\/p>\n

The metaverse is expected to grow significantly. Last month, Citi predicted<\/a> that the metaverse could be a $13 trillion opportunity with 5 billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley both believe that the metaverse could be an $8 trillion opportunity.<\/p>\n

What do you think about Standard Chartered Bank entering the metaverse? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Standard Chartered Bank has become the latest major bank to enter the metaverse. The bank has acquired \u201cvirtual land at The Sandbox metaverse\u2019s Mega City district, a culture hub based on or inspired by Hong Kong talents.\u201d Standard Chartered Bank Forays Into the Metaverse Standard Chartered Bank announced Tuesday that its subsidiary, Standard Chartered Bank […]<\/p>\n","protected":false},"author":2,"featured_media":63927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-63926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/63926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63926"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/63926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/63927"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}