Commercial Bank International is the First UAE Lender to Launch Metaverse Location

Dubai-based Commercial Bank International (CBI) is now in the metaverse. The bank announced the launch of their metaverse location, making it the first UAE bank to have presence in the metaverse.

CBI’s virtual location can be accessed by visitors via Decentraland at cbi.dcl.eth or (63, -127) using the Decentraland map coordinates. The bank’s virtual location can also be accessed through portals, the bank said in an emailed statement.

“We are proud to be the first ever bank in the UAE and among the first in the Middle East to bring the metaverse experience to our customers and people", said CBI Chief Executive Officer Ali Sultan Rakkad Al Amri.

Al Amri added, “It is testament to our strong support and belief in the country’s vision of being a leader in innovation worldwide. We aim to enhance the integration of real and digital worlds, and we will continue to implement new digitization initiatives and advanced technologies to serve our customers better.”

In addition to this, CBI will debut their virtual location as they participate in XVERSE, a space in GITEX 2022, as an activation partner.

XVERSE is solely dedicated to those embracing metaverse technology, and will be open to visitors during the course of the event, which will take place between October 10 to 14^th at the Dubai World Trade Centre (DWTC).

At GITEX 2022, CBI has put together a future facing agenda, which will take place at their activation partner booth during the event. All plans will focus on exploring the metaverse and further unlocking its potential.

“As part of the agenda, CBI, in partnership with homegrown UAE burger brand Pickl, will showcase a real-time metaverse use case. CBI and Pickl will demonstrate how the metaverse can further enable a digital economy through a stunt never before done in the Middle East", the bank said.