Commercial Bank International is the First UAE Bank to Enter Metaverse

Commercial Bank International (CBI) claims to be the first bank from the UAE to step its foot in the metaverse.

UAE’s CBI Bank Enters Decentraland

According to a local media report from today, Commercial Bank International (CBI) is the first ever bank in the UAE to open a virtual Metaverse location in Decentraland, a metaverse platform based on Ethereum. The Bank’s customers can now explore and interact in the virtual lounge and access services built on augmented reality (AR), virtual reality (VR), and blockchain. This showcases how CBI is committed to supporting the «strategic vision and aspiration of the UAE towards digitization and innovation.» Commenting on the planned launch of CBI’s Metaverse location, Ali Sultan Rakkad Al Amri, the 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 move aligns with the UAE’s strong commitment to building a metaverse economy that embraces the use of blockchain technology, virtual assets, artificial intelligence, and mixed reality technologies.

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