- Commercial Bank International became the first bank in the UAE to get itself located in Decentraland.
- The move marks the first mover advantage to the bank in the metaverse space.
- This has been done amid the rise in popularity and the surging digital economy with the aim of reinventing the customer experience.
In a recent announcement made on the official Instagram handle of Commercial Bank International, headquartered in UAE, the bank’s entry into the Metaverse through Decentraland has been revealed.
With their opening in Decentraland, an ecosystem based on blockchain, Commercial Bank International has gained the first mover advantage of having a ‘land’ on the Metaverse. This has come amidst the plans of Dubai to lay a strategy and dominate the presence of the AR-enabled parallel landscape.
As per the CEO of CBI, Ali Sultan Rakkad Al Amri, the bank has taken this step to keep up with the rapidly surging digital economy and to offer users a new digital experience. He released a statement mentioning the same that said:
We are proud to be the first ever bank in the UAE and among the first innovative banks in the Middle East region to bring the Metaverse experience to our customers and people.
The bank’s move into the Metaverse will allow customers and the general public to explore and establish interaction with the digital content. In addition, it should be noted that the virtual space features a lounge solely dedicated to showcasing the commitment of CBI to supporting the strategic digital vision of the UAE.
Commercial Bank International aims to enhance the integration of the real and digital worlds, and they will be coming up with new digitization initiatives to serve the customers better. Ali Sultan of Commercial Bank International also emphasized that it’s time for the financial services sector to take some courageous and innovative steps.