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The UK-based bank HSBC is entering the metaverse. It was announced that it has partnered with The Sandbox to become the first global bank in this regard.

HSBC has established this partnership in order to interact with sports communities, The Sandbox said in a statement on its official Medium account.

HSBC, the financial dec provider that aims to engage with athletes, e-athletes and gaming enthusiasts, has acquired a plot of land in The Sandbox metaverse.

There has been talk that bank has been quite opposed to crypto currencies before. In January last year, it blocked British withdrawals from exchanges to bank accounts. In March, HSBC CEO Noel Quinn announced that they are not interested in bitcoin. However, in late 2021, it received an investment of 200 million from ConsenSys, which develops software for the Ethereum blockchain. He participated in a funding round where he partnered with Wells Fargo to research and use blockchain technology.

Suresh Balaji, Marketing Manager at HSBC, said in a statement on the matter:

The Metaverse is the way people experience the new Web3 using technologies such as augmented reality and virtual reality. At HSBC, we work to create new opportunities and create experiences for our customers and the communities we serve. Thanks to the partnership we have established with The Sandbox, we are stepping into the Metaverse and we are excited to work with Animoca Brands.

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