Commercial Bank International becomes 1st bank in the UAE to open a virtual Metaverse location
Commercial Bank International is the first bank in the United Arab Emirates to open a virtual branch in the Metaverse and among the first early adopter banks in the Middle East to build a virtual Metaverse site in Decentraland, a well-known blockchain-based world. CBI is a corporate and retail bank with headquarters in the UAE.
Ali Sultan Rakkad Al Amri, CEO of CBI, 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, which we believe is a strong testament to our strong support and belief in the country’s vision in being a leader in innovation worldwide.”
The Metaverse is the next evolution of the digital customer experience. It’s a virtual world, where people can interact, explore, and access services as digital avatars of themselves.
The Metaverse is built on advanced technologies such as augmented reality (AR), virtual reality (VR) and blockchain.
CBI’s planned launch in the Metaverse aligns with the UAE’s strong commitment to building 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 everyday consumer services.