South Korea Bank KEB Hana Enters Metaverse

MetaversePlanet August 1, 2022

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Four months following British bank HSBC’s entry into the Metaverse, The Sandbox has revealed its foray into the dynamic realm of South Korean financial institution KEB Hana Bank.

Established in 1967, KEB Hana Bank has a longstanding presence and is recognized for providing the most extensive array of foreign exchange products in South Korea.

It holds a prominent position as the country’s premier financial institution, boasting the highest valuation in terms of assets.

Keb Hana Enters Metaverse!

On Monday, South Korean commercial bank KEB Hana Bank announced a strategic partnership with The Sandbox to venture into the Metaverse, specifically targeting Generation Z customers. The initiative, known as K-verse, by the bank aims to promote new events and offer limited virtual banking services within the Metaverse.

This move marks KEB Hana Bank as the first South Korean bank to embark on such a Metaverse initiative. Renowned for providing the most extensive range of foreign exchange products and services to its domestic customers, the bank is set to collaborate with The Sandbox in establishing a virtual branch within the gaming platform.

The virtual branch will enable users to access basic banking services and receive insights on promoted investments. Additionally, users will have the opportunity to explore and engage with Hana Financial Group within K-verse, a virtual space hosting various Korean content.

Jung Kim, Vice President of KEB Hana Bank, emphasized in a statement that the Metaverse serves as a primary tool for individuals to experience Web3. He further explained that this partnership will introduce a novel form of service, especially tailored for younger generations.

Cindy Lee, CEO of The Sandbox Korea, expressed excitement about KEB Hana Bank’s entry into the Metaverse, anticipating the creation of innovative content. She also highlighted the forthcoming development of an easy-to-use Metaverse banking service for users as the next step in this evolving collaboration.