Thailand's SCB Enters Metaverse with Virtual Headquarter in Sandbox Metaverse

SCB 10X, the investment arm of Thailand's fourth-largest bank by total assets, Siam Commercial Bank (SCB), is joining the list of major financial institutions that enters the metaverse by setting up headquarter within the metaverse built by Animoca Brands' subsidiary The Sandbox, following JP Morgan who last month has opened its Onyx lounge in Decentraland.

As part of the launch, SCB said it will be hosting its "Open House In The Metaverse" on March 11 to showcase its virtual headquarters where it will host workshops and discussions, according to a press release on Wednesday.

"Financial technologies of the future, such as blockchain, digital asset, DeFi and the metaverse are core areas of interest for us to explore," SCB 10X's chief investment officer Mukaya Panich said.

"We believe that the metaverse will play an important role, enabling infinite creations in a digital world [while] shaping new frontiers for the economy of the future."

Following the establishment of its foothold in the metaverse, SCB also said its headquarters will invite users to engage with a world "designed to reflect the past, present and future" of Thai culture.

Visitors will be able to navigate through three separately crafted environments to attend virtual events, join the investment arm's product demonstrations, share a working space and interact with attendees from around the world, it said.

SCB is hoping its launch will inspire collaboration, development and the exchange of ideas amongst builders and community creators in a bid to accelerate innovation within the digital medium.

Source: Blockworks