CBI pushes banking operations in the metaverse

Commercial Bank International (CBI), it has become the first bank in the United Arab Emirates to open a virtual branch in the Metaverse.

The first bank to open a virtual Metaverse site in the well-known blockchain-based world of Decentraland is CBI, a corporate and retail bank with headquarters in the United Arab Emirates. CBI is also one of the first early adopter banks in the Middle East.

The CEO of CBI, Ali Sultan Rakkad Al Amri, commented on the upcoming launch of CBI’s Metaverse location, saying: “We are proud to be the first 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, which we believe is a strong testament to our strong support and belief in the country’s vision to be a leader in innovation globally.”

“We believe that the financial services industry needs to make some bold and innovative moves to keep up with an increasingly digital economy and reinvent the customer experience from a digitally driven perspective. We wanted to join this journey and become the first mover through an immersive Metaverse experience. In order to better serve our clients, we continue to deploy new digitisation initiatives and cutting-edge technology with the goal of enhancing the interaction of the physical and digital worlds.”

The next step in the development of the digital user experience is the metaverse

People can communicate, explore, and access services in this virtual world using digital representations of themselves called avatars. Blockchain and other cutting-edge technologies like augmented reality and virtual reality are the foundation of the metaverse.

Customers and the general public can explore and engage with a variety of the bank’s digital information and resources within its new Metaverse experience. The area has a lounge where visitors may see how dedicated CBI is to advancing the UAE’s strategic goals of digitalisation and innovation.

The UAE is strongly committed to developing a digital economy that embraces the use of blockchain technology, virtual assets, artificial intelligence, and mixed reality technologies in both a business environment and in regular consumer services. CBI’s planned launch in the Metaverse is in line with this commitment.


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