Lender Part-Owned by Thailand’s King Catches The Metaverse Bug
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Thailand’s biggest bank by market value has become the latest lender seeking to capitalize on the metaverse craze, with a unit announcing plans to set up a headquarters in a version of the internet that’s still taking shape.
SCB 10X Co., which oversees Siam Commercial Bank Pcl’s investments in technology startups, will become the first banking group entity globally to develop a headquarters in The Sandbox, a blockchain-based virtual platform, it said in a statement on Monday. The virtual space will be ready for public visits by the fourth quarter of this year, it said. SCB 10X’s physical head office is in Bangkok.