Thailand-based bank Siam Commercial Bank has announced plans to set up a headquarters in the Sandbox metaverse by the end of the fourth quarter.
SCB 10X’s virtual location will comprise three utility zones, including a virtual hub, a virtual land, and a hub for promoting local artists.
The Virtual hub will enable knowledge sharing and host events, while virtual land will be a space that allows business collaborations and future project developments.
The Thai lender has not clarified the benefits offered in the space, although speculations remain around an immersive internet accessible through virtual and AR goggles.
The news comes as other global banks, including JPMorgan Chase and HSBC, announced their foray into the immersive technology space.
Siam unveiled the SCB 10X unit two years ago to enhance technological growth and investments.