DBS Bank announces a partnership with metaverse platform The Sandbox

DBS, one of Asia’s largest banks that manages $488 billion in assets, has announced a partnership with metaverse platform The Sandbox. 

The content published by Singapore-based banking giant DBS included information on the details of the agreement. According to the published details, the partnership with The Sandbox aims to create new services for DBS customers in the virtual world. The bank will purchase a 3×3 plot on The Sandbox to build a metaverse property called DBS BetterWorld .

With this breakthrough, DBS became the first bank in Singapore to enter the metaverse universe. The company recently announced that it will diversify its crypto money services and increase the customer portfolio interested in these investments by 300 times .

DBS CEO Piyush Gupta made the following statements in the announcement about the agreement:

The biggest innovations in the financial world in the last decade have been catalyzed by digital developments. In the next decade, these changes, driven by new technologies such as artificial intelligence and blockchain, have the potential to have an even deeper impact. While Metaverse technology is still evolving, it could change the way banks interact with their customers.

While blockchain technology has gained a reliable place in the technology markets, the big players of the sector have started to invest in this field without wasting time. Recently, popular metaverse project The Sandbox also announced an agreement with Renault Korea Motors that will provide consumers with new ways to experience vehicles digitally.