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KEB Hana, A South Korean Bank, Expands to the Sandbox

Metaverse

www.cryptonewsz.com 18 July 2022 11:40, UTC
  
Reading time: ~3 m

KEB Hana has entered into the virtual space of The Sandbox as a part of its global virtual expansion. KEB Hana is a South Korean bank that will now offer its services in the metaverse by opening a branch.

Users can access the virtual brand of the South Korean bank and avail of the basic banking services like experiencing coloration opportunities and getting insight into promoted investment.

The business model will be a collaborative effort of KEB Hana and other partners of The Sandbox. KEB Hana’s entrance into The Sandbox follows the inauguration of HSBC in the ecosystem.

KEB Hana was established in 1967. It is now the best banking facility in the region regarding foreign exchange products and possesses the most valuable assets in the treasury.

Metaverse is gaining traction and is expected to have most of the population in the coming years. Many industries and their best brands are attempting to mark their presence in the metaverse to better connect with users and spread brand awareness.

The same principle has been talked about by So Jung Kim, the Deputy President of KEB Hana Bank. He said that people would experience Web3 only through metaverse, adding that the bank was excited to be a part of the new trend.

Jung Kim also said the partnership could open doors to opportunities to offer new services, especially to the younger generation.

There is no exact word on what kind of new services could be offered; however, the younger generation is headed towards the metaverse. Brands that have understood, or seen, where the tide is moving have decided to make a move to claim first movers advantage.

Other industries’ brands are expected to follow the trend soon enough. Before the metaverse gets crowded with many brands, quick decision makers are sure to have benefits.

In addition to The Sandbox, Hana Financial Group will also enter the K-verse.

K-verse is the digital space where users can find all the Korean content, and it is another way for businesses to connect with the specific target market.

An expected entry into K-verse points out how wide the scope of the metaverse is for brands looking to expand their horizons. Offering banking services in the metaverse could open doors to serving customers who are not even in the same region.

For instance, a brand based in the United States of America could connect with a user based in Asia. Similarly, KEB Hana could be serving customers of different regions.

A higher customer number means higher earnings and a better bottom line, something that every business lives to experience. Metaverse could truly offer that to brands looking to connect with more users without moving a brick.


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