Financial institutions are beginning to take notice of the metaverse, a blockchain-fueled virtual world that offers new social experiences through virtual and augmented reality. With a young, tech-savvy user base, metaverse applications provide banks with unique opportunities to build relationships with a growing consumer base that has embraced fintech.

Leading institutions such as JPMorgan, HSBC, Kookmin, and DBS have already established a presence in the metaverse, offering financial services and interactive experiences aimed at promoting a more sustainable world. Banks are also preparing their financial advisors and wealth managers for Web3-based financial products, including metaverse ETF and index products fueled by the growing market capitalization of metaverse tokens.