Standard Chartered (Hong Kong) announced a new partnership with The Sandbox, a decentralised gaming virtual world, to create innovative experiences for its customers and the community.

Led by SC Ventures, Standard Chartered Group’s investment arm, the bank will actively engage its clients, partners, staff, and the tech community, to explore co-creation opportunities in this new space.

The bank said that the goal is to experiment and build new experiences, as well as bringing the local sports and art communities into the metaverse.

Standard Chartered added that it was the first bank to acquire virtual land at The Sandbox metaverse’s Mega City district, a culture hub based on or inspired by Hong Kong talents.

SC Ventures has been investing in disruptive financial technology and exploring alternative business models for the bank.

The innovation arm will continue to drive the bank’s entrance into the metaverse and exploration of future Web 3.0 opportunities.

Mary Huen, Chief Executive of Standard Chartered, Hong Kong said,

“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.”

Alex Manson, Head of SC Ventures, Standard Chartered said,

“For the past few years, we have been building business models in crypto, digital assets and see the rise of the metaverse as a critical milestone in the Web 3.0 evolution.

 

We are excited for this opportunity to explore and innovate in partnership with The Sandbox, but also with our clients and partners who will play a crucial role in how this space develops.”