- Together, DBS Bank and The Sandbox will acquire carbon offsets.
- The DBS has become the first Singaporean company to partner with The Sandbox.
The DBS Bank, a Singaporean financial institution, has stated that it would be working with the metaverse platform The Sandbox. The collaboration will help DBS expand its virtual offerings to more customers. DBS BetterWorld is the bank’s planned private metaverse property, and the institution is planning to buy a three-by-three parcel of land to house it. The necessity of creating a better and more sustainable world will be highlighted by DBS BetterWorld.
Together, DBS Bank and The Sandbox will acquire carbon offsets, making all land and production on DBS BetterWorld carbon neutral.
Banking on the More Profound Technology
The DBS has become the first Singaporean company to partner with The Sandbox. This is also the first bank in Singapore to enter the virtual world. This also marks a watershed moment in DBS’s ongoing quest to discover how it may best serve its customers and the world at large by capitalizing on possibilities presented by the third iteration of the World Wide Web.
Piyush Gupta, CEO of DBS, stated:
“Over the last decade, the biggest changes in the world of finance have been catalysed by digital advancements. In the coming decade, driven by new technologies such as artificial intelligence and blockchain, these shifts have the potential to be even more profound.”
The possibilities of metaverse technology were further emphasized by Gupta. He said that the ever-developing field of metaverse technology has the potential to alter the traditional ways in which financial institutions communicate with their customers.
Co-founder of The Sandbox, Sebastien Borge, extended a warm welcome to DBS as a new participant in the metaverse and the SingaporeVerse development project. The 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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