Siam Commercial Bank of Thailand (SCB) has officially revealed that it will open its initial metaverse headquarters in the Sandbox metaverse. This will be via SCB 10X, the project building & investment arm of SCB. By this decision, the Bank of Thailand became the second-largest financial organization to find its place in the virtual space; the initial one is JP Morgan.
Additionally, the SCB also announced that it will host “Open House in the metaverse” on March 11 to introduce its virtual headquarters. This is where he intends to host workshops and negotiations.
Mukaya Panich, Senior Investment Manager at SCB 10X, stated:
“Upcoming financial technologies, like blockchain, digital asset, DeFi and the metaverse, are our main areas of interest to discover.
Panich also said that the metaverse plays an essential role, enabling limitless generations in a digital world, while at the same time setting new frontiers for the upcoming economy. Besides, the bank said that the headquarters will be planned to reflect the past, present and future of Thai culture.
According to the bank’s official, in the headquarters, users can discover three well-designed environments, join product shows, share workspace and interact with participants around the world. They are aiming this launch will increase Thailand’s attendance in the metaverse.
Not only being the largest, SCB is the oldest bank in Thailand as well. When it was founded in 1906, SCB was the initial bank in the country. Thus, investing in an old bank in the new digital world will likely inspire many financial institutions which are uncertain about crypto and the metaverse domain.