SCB 10X, the venture arm of Thailand-based Siam Commercial Bank, has launched its virtual headquarters in The Sandbox, a virtual platform and subsidiary of Animoca Brands.
Photo credit: SCB 10X
According to the bank, the virtual HQ was designed to reflect Thai culture. There, visitors can attend SCB 10X’s product demonstrations and engage with communities across the globe, among other activities.
The HQ is also aimed at inspiring collaboration, development, and the exchange of ideas among the metaverse community, the bank said in a statement.
“Financial technologies of the future, such as blockchain, digital asset, DeFi (decentralized finance), and the metaverse, are core areas of interest for us to explore,” Mukaya Panich, SCB 10X chief venture and investment officer, added.
SCB 10X was also one of the investors in The Sandbox’s series B funding round in November last year.
See also: The quiet rise of a startup that sold $2.5m of virtual land
The announcement comes close on the heels of HSBC’s partnership with The Sandbox, which allowed the bank to acquire a plot on the virtual platform.
Before this, the likes of PwC Hong Kong and property tycoon Adrian Cheng also purchased real estate in The Sandbox.
Editing by Miguel Cordon and Jaclyn Tiu
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