Hana Bank signs MOU on global metaverse platform business

Hana Bank Deputy President Kim So-jung, right, poses with Sebastien Borget, COO of The Sandbox, after signing an MOU to cooperate in the global metaverse platform business at the bank headquarters in downtown Seoul, Friday. Courtesy of Hana Bank

By Yoon Ja-young

Hana Bank signed an MOU with The Sandbox, a blockchain-based metaverse platform business, for cooperation in new business.

Following the MOU, the bank plans to join in projects created by The Sandbox as a global partner, to secure a leading position in digital banking by providing global metaverse banking services and content related to Korean culture.

Hana will launch a virtual branch within the metaverse platform of The Sandbox to provide banking services, on top of expanding the ecosystem of the virtual economy through investment in firms participating in the metaverse.

The bank is also set to provide diverse cultural content related to Korea for the “K-Verse Zone,” a virtual space on Korean content within The Sandbox metaverse, for users from around the world.

“By participating in the global version of the Web 3.0 metaverse, which has become a trend, we expect to secure leadership in digital banking and provide our customers, especially those from the younger generations, with convenient and interesting financial services,” said Kim So-jung, Hana Bank's deputy president in charge of digital marketing.

“We are excited over the new content the metaverse and bank will create through collaboration. We will present metaverse banking services that are easy and convenient while creating fun at the same time, jointly with Hana Bank,“ Cindy Lee, head of The Sandbox Korea, said.