MUFG plans to offer financial services in the metaverse
In Brief
MUFG, Sompo Japan Insurance Inc., and ANA Holdings partner to offer virtual financial services
The companies have not shared the launch date
Japan’s largest bank, MUFG, plans to start offering financial services in the metaverse. The institution partners with Sompo Japan Insurance Inc. and metaverse platform GranWhale to introduce its first Web3 feature.
The companies recognize virtual worlds as an important channel that would help users get access to financial services. So, the three are developing a cooperative framework to create opportunities in the metaverse.
ANA GranWhale is a new platform developed by ANA holdings, a Tokyo-based consortium that focuses on air transportation companies. The metaverse is set to launch in 2023. Notably, GranWhale developers expect 38 million users to join it straightaway as the company has this many mileage members.
Like other metaverse platforms, GranWhale will allow users to sell and purchase virtual products. For instance, customers will be able to buy MUFG bank’s digital products and financial services within the virtual world.
The companies have not shared the exact launch date yet.
MUFG is not the first institution to offer its services in the virtual world. In May this year, Dubai’s Virtual Assets Regulatory Authority inaugurated its headquarters in The Sandbox. The UAE Ministry of Economy is developing an HQ in the metaverse, while Southeast Asian bank DBS offers services in Decentraland.
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About The Author
Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at valerygoncharenko@mpost.io
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Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at valerygoncharenko@mpost.io
