With a tweet, the Singaporean multinational banking and financial services corporation DBS Bank officially announced its entry into the metaverse.
To mark its entrance, DBS Bank has purchased a plot in the leading virtual world, The Sandbox, to create an interactive metaverse experience showing the importance of building a better, more sustainable world.
As a result of this experience, the company will continue its mission of sustainability across three sustainability pillars: responsible banking, responsible business practices, and impact beyond banking.
DBS is the first Singapore corporation to enter into a collaboration with The Sandbox, and the first Singapore bank to venture into the metaverse.
Increasingly, banks are establishing a presence in the metaverse, either to raise brand awareness and expose users to their financial products or to offer more direct services to users.
Sygnum, for example, recently entered the metaverse in order to educate the community about its innovative products and the future of finance.
In July, Islamic bank Warba Bank launched its metaverse project to engage with young clients and meet all their banking needs, as well as offer all the bank’s new services and products.
This indicates that Web3 will also change the banking industry, allowing people to get involved in financial services in a new way.