Commercial Bank International first UAE bank to launch Metaverse location

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Commercial Bank International (CBI, a corporate and retail bank headquartered in Dubai, has announced the official launch of its Metaverse location.

CBI is the first UAE bank to have presence in the Metaverse and among the few early adapting banks in the Middle East and the world as well.

CBI’s virtual location is now open for visitors and can be found in Decentraland at cbi.dcl.eth or (63, -127) using the Decentraland map coordinates. CBI’s virtual location can also be accessed through Portals.

CBI at Gitex

CBI will debut its virtual location as it participates in XVERSE, a space in Gitex Global, dedicated exclusively to those embracing Metaverse technology, as an Activation Partner. The event will take place between the 10th and 14th of October at the Dubai World Trade Centre.

CBI has put together a future facing agenda that will take place at their Activation Partner booth during the event, with all plans focused on further exploring the Metaverse and 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.

Commenting on CBI’s Metaverse plans, Ali Sultan Rakkad Al Amri, the CEO of CBI said: “It’s 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 digitisation initiatives and advanced technologies to serve our customers better.”

Key milestone

The launch of CBI’s virtual location marks an important milestone in its Metaverse journey. Showcasing CBI’s Metaverse location in a technology focused event such as Gitex aligns with CBI’s commitment towards supporting the digitisation and innovation aspirations of the UAE. Their Activation Partner booth in Gitex’s XVERSE space will see CBI contribute to an immersive Web3 journey and give visitors an opportunity to explore a new chapter of CBI in the Metaverse.