Metaverse has proven to be a diverse opportunity for financial institutions. The Sandbox (SAND) altcoinannounced that KEB Hana Bank will enter the virtual digital world in its own universe.
Hana Bank offers the widest variety of foreign exchange products in South Korea. The banking institution will seek to expand its services on the Metaverse. However, both partners are planning to launch a different type of event marketing.
According to reports, Hana signed a memorandum of understanding with the blockchain-based metaverse platform. The bank plans to enter projects managed by Sandbox as a global partner.
South Korean Bank to Open Branch in The Sandbox (SAND) Metaverse
Collaboration will include building a business model. The bank will open a virtual branch in the digital world to provide basic services and seize advertising opportunities. Hana Financial Group will also be posting Korean-related content on the K-verse. It will be a virtual zone for Generation Z to learn more about Korean culture.
Hana Bank Vice President So Jung Kim said that this partnership will open the doors to a new type of service for young users.
However, the Sandbox price did not decline much during the recent market drop. The SAND price has dropped just 1% in the last 60 days. The Metaverse token is trading at $1.15 at the time of this writing. SAND remains the second largest Metaverse coin in the world and has a market capitalization of approximately $1.45 billion.
Previously, Sandbox had partnered with LOTTE WORLD, South Korea’s largest amusement park.
*Not investment advice.