Standard Chartered Bank (Hong Kong) (SCBHK) has entered the metaverse by acquiring virtual land at The Sandbox, a decentralized gaming virtual world, to create innovative experiences for its clients.

It is the first bank to acquire property at The Sandbox’s Mega City district, a culture hub based on or inspired by Hong Kong talents.

Led by SC Ventures, Standard Chartered Group’s innovation, fintech investment and ventures arm, SCBHK hopes to actively engage its clients, partners, staff, and the tech community, to explore co-creation opportunities in the “new and exciting space”. Aside from experimenting and building new experiences for clients, the bank says it also aims bring local sports and art communities into the metaverse.

Mary Huen, chief executive of Standard Chartered, Hong Kong, says: “The metaverse is a vision for the next phase in the internet’s evolution, bringing new possibilities and unique experiences through the use of immersive technologies. Our involvement in the metaverse allows us to reimagine our relationship with existing and potential clients on this new platform and our approach to enhance 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.”