DBS Bank establishes relationship with The Sandbox

Singapore's largest bank DBS has announced a partnership with The Sandbox in an effort to increase the organization's presence in space metaverse.

As part of the partnership, DBS will create experiences metaverse through the purchase of a 3×3 plot of land in The Sandbox to develop “BetterWorld” – a virtual world that simulates the location of a bank to demonstrate the importance of building a good and sustainable world. than.

Hey #sandfam, DBS BetterWorld is coming to town. @TheSandboxGame #ForABetterWorld pic.twitter.com/b1H4F6xub9

— DBS Bank (@dbsbank) September 9, 2022

DBS says it is the first Singapore company to partner with The Sandbox and the first local bank to enter metaverse. In addition, the bank also confirmed that they will also buy excess carbon, offset this campaign to help fulfill the Web3 carbon neutrality goal.

“Our partnership with The Sandbox and Animoca Brands marks the beginning of an exciting turn as we push the boundaries of what can happen in the metaverse.

We also look forward to exploiting the metaverse as an additional creative platform to spread information on important environmental, social and governance issues in order to attract the attention of the community and working partners. good work to deal with them.”

DBS's latest move follows the bank's considerable efforts in the industry cryptocurrency. Last year, the bank's brokerage arm, DBS Vickers, received a business license crypto from the Monetary Authority of Singapore (MAS), allowing its institutional clients to access their DBS Digital Exchange by invitation.

Besides, DBS also provides custody solution cryptocurrency, become a member of the Council Hedera Hashgraph, service expansion crypto for individual investors and collaborated with JPMorgan to launch a cross-border payment platform with technology blockchain.

However, DBS is only one of the famous big banks that has been persuaded by The Sandbox's "attractiveness" in recent times. Because, from the beginning of 2022, if Decentraland (MANA) has always been the leading platform chosen by many organizations to launch simulated events in the virtual world, The Sandbox is "unique" in the real estate segment, creating a gateway to the metaverse for customers. In the traditional financial world, some popular names have bought land in The Sandbox such as Big4 PwC, HSBC Bank and Standard Chartered Bank.