British bank announces new HSBC Metaverse strategy
The largest British bank, HSBC, has created a meta-universe fund that will be available in Hong Kong and Singapore. This portfolio is aimed at experienced investors who manage large capitals and have ultra-high returns, as well as accredited investor clients. Before creating the fund, HSBC announced investments in ConsenSys, a company that develops blockchain-based solutions. The bank is also investing in virtual real estate.
According to information from HSBC, the fund and its Metaverse strategy will focus on five main areas of the meta-universe: interface, infrastructure development, innovation, and virtualization.
According to representatives of the British financial conglomerate, the ecosystem of virtual worlds is still at an early stage of development, but it is actively improving. There are some amazing metamorphoses happening at this stage, and it is ideal for investors to get involved. Now companies of all kinds want to get into the ecosystem, to become part of it.The fund was created specifically for clients with a high level of capital, and it will be managed through the Asset Management banking system. The main goal of the strategy is to maximize the potential of the meta-universe at the early stages of its development. It is designed for about 10 years.
In 2021, a major auditing company conducted an analysis of the global segment of the meta-universe. It is estimated its value should reach $1.5 trillion by 2030. By comparison, it was $45.4 billion in 2019. The investment firm Citigroup recently released its estimate. It believes that by 2030, the meta-universe sphere will be worth about $8-13 trillion.
It should be noted that HSBC has repeatedly stated its interest in meta-currencies and has been skeptical about cryptocurrencies. Last May, the bank’s director said that the corporation had no plans to launch its own digital money platform. In addition, HSBC claimed that it was not going to invest in this direction. This decision is due to the issues of volatility and transparency of cryptocurrencies. This statement was made during the collapse of the market when China introduced measures to restrict trade and mining of digital money.
However, this changed when a British bank took part in a funding round in the fall of 2021 and invested $200 million in ConsenSys. Unlike cryptocurrencies, the corporation has always been positive about meta-currencies, noting their potential for investors. In March of this year, HSBC acquired real estate in the virtual world of Sandbox Metaverse. The British financial conglomerate is expanding its services for its clients, who are ready to join investments in the meta-universe market.