DBS, the top bank in Singapore, has partnered with Sandbox to expand its banking services into the Metaverse.
The aim of the partnership is “to create DBS BetterWorld, an interactive metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside,” the announcement describes, adding, “The partnership makes DBS the first Singapore company to seal a partnership with The Sandbox and the first bank in Singapore to make a foray into the metaverse.”
DBS and Sustainability
DBS noted that in addition to advertising its banking services, it could use the platform to raise awareness about sustainability.
Through interactions with BetterWorld, visitors to the Sandbox can learn about ESG concerns and the entrepreneurs influencing Asia’s future.
DBS also said it would integrate its LiveBetter program into the metaverse environment. As a result, customers can access information and resources through LiveBetter to assist in their transition to a more sustainable way of living.
By the end of 2022, DBS wants to reach net operational carbon. So that its operations on DBS BetterWorld are carbon neutral, it is collaborating with Sandbox to buy carbon offers.
CEO’s Thoughts
“The metaverse presents exciting opportunities to redefine how we live, work and engage with each other,” the CEO of DBS stated. He further said their developers would extensively experiment with the Metaverse and introduce something fresh.
According to Piyush Gupta, the chief executive officer of DBS, blockchain technology & Artificial Intelligence (AI) can transform the financial industry. It makes fitting that DBS is also joining the Metaverse since these technologies will drive innovation during the ensuing ten years. The virtual world may alter how businesses and customers interact, though I’m not confident about that.
