MUFG is gearing up to launch financial services within the metaverse environment.
In Brief
In a collaboration between MUFG, Sompo Japan Insurance Inc., and ANA Holdings, they are working together to provide virtual financial services.
So far, the companies involved have not disclosed when they plan to launch their services.
As Japan’s largest bank, MUFG is teaming up with Sompo Japan Insurance Inc. and the metaverse platform GranWhale to unveil its first feature designed for the Web3 ecosystem.
These companies acknowledge that virtual environments are crucial for facilitating access to financial services, which is why they are working together to create new opportunities in the metaverse. cooperative framework ANA GranWhale, a fresh platform launched by ANA Holdings—a notable group based in Tokyo focusing on air transport—is expected to go live in 2023, aiming to attract around 38 million users initially, drawn from its extensive mileage program member base.
Similar to other metaverse spaces, GranWhale will provide users with the ability to buy and sell virtual products. For example, users will have the chance to purchase digital products and financial services offered by MUFG within this immersive universe.
The exact date for the service launch has yet to be revealed by the companies.
MUFG isn’t the pioneer in entering the virtual landscape; for instance, just last May, Dubai's Virtual Assets Regulatory Authority made strides in The Sandbox.
The UAE Ministry of Economy is actively involved in metaverse initiatives, while Southeast Asia's DBS Bank has begun providing services in Decentraland. inaugurated its headquarters Major companies like Netflix, Google, and Meta are facing significant sell-offs by hedge funds. developing an HQ Animoca Brands Japan recently secured $45 million in funding, achieving a valuation of $500 million.
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In line with the Trust Project guidelines She holds a Master's in Public Communications and is currently pursuing a second major in International Business Management. In her spare time, she enjoys photography and fashion styling. Valeria's journey in journalism began at 13 when she founded her first fashion blog, igniting her passion for storytelling and style.
