Sunday, February 5, 2023

South Korea’s Shinhan Bank Stirs Metaverse Sector With ‘Cinnamon’ Platform

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Shinhan Bank, named among the top four lenders in South Korea, has taken a massive step towards rattling up the metaverse industry. The lender has launched a metaverse site named ‘Cinnamon’, where people will be able to access an array of services from financial, as well as non-financial sectors. Before this launch, the bank has conducted tests to ensure the operability of this virtually immersive platform. Overall, South Korea has been seeing a massive boom in the metaverse sector this year.

The metaverse ecosystem by Shinhan will flaunt dedicated zones for healthcare, sports, finance, and art where people interested in visits, could reach as virtual avatars, SeoulWire reported.

The development comes after South Korean lawmakers spoke about plans of investing over $177 million (roughly Rs. 1,370 crore) in supporting metaverse projects that will also trigger job opportunities in the sector.

Shinhan, which is an early investor in crypto custody services, ran a five-day-long test on its metaverse platform and reportedly garnered visits from over 85,000 people back in June this year.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: Gadgets360

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