DBS Bank partnered with The Sandbox for Metaverse

DBS Bank is a leading bank in Singapore and this bank is known to adopt the latest technology and innovation for the customers in the country. They have even added an option to buy crypto in their almost 2 years back however this is only for the business customers and not for the retail but hopefully they should be launching it soon for the retail customers as well. This shows that the bank is more interested in cryptocurrency and they are trying all the possible aspects to be part of this revolution. When I see the news when banks are talking about the crypto or announce something that is related to the cryptocurrency or blockchain industry then I feel like it is a great movement and going to add a lot of value to the cryptocurrency market.

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Bank in Metaverse

Today, DBS Bank has announced that they have partnered with the sandbox to create something in the metaverse. The sandbox is a leading decentralized blockchain network for virtual gaming and metaverse. I believe that this is a great partnership that has been announced by the bank and together they are going to offer something which will bring the next level of experience in the banking and finance industry.

Technology is playing an important role to make finances better and banking is one of the segments where it can be just transformed to the next level. I don't know this has not been revealed how banks will work on this technology and what will be the offering by the banks to the customers. But one thing is confirmed they must have done their homework and they know what they are going to build on this virtual reality blockchain network.

Cryptocurrency and blockchain technology is here to stay because now these leading financial institution and take giants are announcing a partnership with various networks. Such partnerships are not just limited to the banking or financial sector instead many other brands from real estate and aviation have also announced similar partnerships this year. So altogether this is going to bring a lot of people in the crypto segment and that is something also going to contribute towards the valuation and price appreciation in the long term.

If we are looking for mass adoption in the crypto space then I am sure we need to have more people here from various geographies. Bringing more people here means they will bring their ideas to build something that can add more value to the entire ecosystem and if banks are part of this then the payment services will also be facilitated in an easy way.

This is a good example for other banks and they can also follow the same trend where this technology can help them build something for a better future. Now when we are talking about decentralization and even with the investment we expect that whatever we invest remains with us and we do not want to lose control. The banking system has been designed in such a way that this is not possible so it is imperative that banks look for other ways two generate revenue.

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DBS Bank also has a presence in India and I hope that later on the way they will announce something for the Indian users. Although it is difficult to predict anything as of now because the situation in India is not good and even the government is least interested to encourage people to join the cryptocurrency market. It's a good idea to stay positive and expect that someday government comes all of a sudden and announce that they are supporting this revolution and I think that will be the day when the community will be very happy. This is also an opportunity for the people to generate additional sources of income and even an increased tax revenue for the government.

I believe that this is a very good decision by DBS Bank and looks like many more banks will also be joining sooner or later. The market is not doing well these days and the Bitcoin price is moving around the 20,000 USD mark which we can consider bearish but I have witnessed that when the market is low then we get to see more announcements and adoption here.

Thank you

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