Siam Bank In Metaverse | Another Financial Institution Enters Virtual Space 

Siam bank in metaverse

Siam Bank in Metaverse. Yes, you heard that correctly. Thailand Siam Bank has launched its first headquarters in the Sandbox. The commercial bank will be building its virtual headquarters in the Metaverse. We have a post that will provide you with complete information on this.

It is not the first time a Bank has announced plans to build virtual headquarters in the Metaverse. JP Morgan was the first financial firm to find a foot in the virtual world. It was the first one to open an office in the Metaverse. The Siam Commercial Bank is the second financial institution that has announced the same. 

Both these banks have chosen the same platform, the Sandbox Metaverse. The bank also hosted an open house in the Metaverse to show the virtual headquarters. Let us get more details on Siam Bank in Metaverse through this article.

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Siam Bank In Metaverse 

Siam bank enters the Sandbox metaverse

The Thailand Bank has announced to launch its virtual headquarters in the Sandbox Metaverse. It will be launched by the SCB 10X, which is the building arm and venture investment of SCB. It is not the first time that a financial institution has taken this step. Earlier, JP Morgan had also stepped the Metaverse and opened its headquarters in the Sandbox. 

These headquarters will be established and designed so that the past, present, and future of Thailand’s culture are reflected through it. The Chief Investment Officer at the SCB 10X said that the Metaverse would play a crucial role in enabling various digital creations and shaping new frontiers for the future economy

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The Siam bank’s officials stated that the users will have the ability to explore three environments in the headquarters. The first would be joining product demonstrations, engaging with people or participants worldwide, and the third would be sharing working space. This move may increase the presence of Thailand in the Metaverse

The main areas of interest for the team to discover will be future financial technologies. This will include digital assets, blockchain, Metaverse, and decentralized finance (DeFi). 

Being the biggest and the oldest, the Siam Bank, may inspire other banks to enter the digital world. It will encourage other financial institutions to move towards the virtual world. 

An open house in the Metaverse was hosted on 11th March to introduce Siam’s virtual headquarters. There were workshops and negotiations hosted at this open house. Various leading leaders of the world would join the open house.

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There were various speakers at the SCB 10X open house in the Metaverse. The list included names such as Arak Sutivong, the president of Siam Commercial Bank and CEO of SCB 10X, Mukaya Panich, the chief venture and investment officer at SCB 10X, Borget, Co-founder and Chief Operating Officer at the Sandbox, etc.

Let us now discuss a few details about the SCB 10X. 

SCB 10X

SCB 10X is based in Bangkok, Thailand. It is a holding company amongst the other subsidiaries of the Siam Commercial Bank. It was founded in the year 2020, and the founder is Mukaya Panich. It has a mission to create long-term value and exponential growth through venture building, strategic investments, and venture capital investment

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Wrapping-Up:

This post was all about the Siam bank in Metaverse. We have provided you with full details on Siam bank’s entry in the Sandbox Metaverse. It will be interesting to see how the project will be in the coming days. We will keep you updated with further details on Siam Bank in Metaverse. Keep reading and keep sharing our articles.

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