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Siam Commercial Bank catches the metaverse bug

Virtual land plots on The Sandbox, a gaming platform that allows users to build a virtual world using non-fungible tokens (NFTs), are seen in this illustration picture taken March 25, 2022. (Reuters)

Thailand’s biggest bank by market value has become the latest lender seeking to capitalize on the metaverse craze, with a unit announcing plans to set up a headquarters in a version of the internet that’s still taking shape.

SCB 10X Co, which oversees Siam Commercial Bank’s investments in technology startups, will become the first banking group entity globally to develop a headquarters in The Sandbox, a blockchain-based virtual platform, it said in a statement on Monday. The virtual space will be ready for public visits by the…

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