Commercial Bank International First UAE Bank to Launch Metaverse Location

Dubai, 7th October 2022: Commercial Bank International (CBI or “the Bank”), a corporate and retail bank headquartered in Dubai, have announced the official launch of their 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. 

Next week, CBI will proudly debut their virtual location as they participate 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 have 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: “We are proud to be the first ever bank in the UAE and among the first in the Middle East to bring the Metaverse experience to our customers and people. 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.”

The launch of CBI’s virtual location marks an important milestone in their 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. 

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