DBS Bank partners with Sandbox for virtual offerings

  • Together, DBS Bank and The Sandbox will receive the carbon offset.
  • DBS became the first Singaporean company to partner with The Sandbox.

The DB . Banka Singaporean financial institution, has stated that it will work with the metaverse platform sand. The collaboration will help DBS expand its virtual offering to more customers. DBS BetterWorld is a planned private property of the bank, and the foundation plans to purchase a three-by-three plot of land to house it. DBS BetterWorld will highlight the need to create a better and more sustainable world.

Together, DBS Bank and Sandbox will receive carbon offsets, making all land and production on DBS BetterWorld carbon neutral.

Banking on the most profound technology

DBS became the first Singaporean company to partner with The Sandbox. It is also the first bank in Singapore to enter the virtual world. This also represents a watershed moment in DBS’s ongoing quest to discover how to best serve its customers and the world at large by leveraging the possibilities offered by the third iteration of the World Wide Web.

Piyush GuptaDBS CEO said:

“Over the past decade, the biggest changes in the world of finance have been catalyzed by digital developments. In the next decade, driven by new technologies such as artificial intelligence and blockchain, these transformations will likely be even more profound.”

The potential of metaverse technology is further emphasized by Gupta. He said that the ever-evolving field of metaverse technology has the potential to change the traditional ways in which financial institutions communicate with their customers.

Sandbox co-founder Sebastian Borg warmly welcomed DBS as a new participant in the metaverse and SingaporeVerse development project. SingaporeVerse is an initiative to introduce Singaporean culture to the virtual world. It will be a community that welcomes everyone and celebrates diversity without compromising the Singaporean way of life.

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