Hong Kong – Banking institution Standard Chartered in Hong Kong has partnered with The Sandbox, a decentralised gaming virtual world, to create innovative experiences for its clients and community.
Standard Chartered Hong Kong deems to be the first bank to acquire virtual land at The Sandbox metaverse’s Mega City district, a culture hub based on or inspired by the country’s talents. Led by SC Ventures, an innovation, fintech investment and ventures arm under Standard Chartered Group, Standard Chartered Hong Kong will be actively engaging 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, Standard Chartered’s chief executive for Hong Kong, noted that their involvement in the metaverse allows them to reimagine their relationship with existing and potential clients on this new platform and their approach to enhancing 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,” said Huen.
Meanwhile, Alex Manson, Standard Chartered’s head of SC Ventures, said that for the past few years, they have been building business models in crypto and 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,” added Manson.
The bank said that its SC Ventures has been investing in disruptive financial technology and exploring alternative business models, and the innovation arm will continue to drive Standard Chartered Hong Kong’s entrance into the metaverse and exploration of future Web 3.0 opportunities.
