World’s First Decentralized Bank in The Metaverse

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In Brief
  • Traditional banks entered the metaverse at the start of this year

  • They now have a competitor in a new decentralized bank

  • A decentralized bank is more in line with Web3 philosophies than traditional banks

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World’s first decentralized bank in the metaverse: Traditional banks that have created outposts in the metaverse have a new, compelling competitor.

JP Morgan and HSBC have launched sites in the Metaverse. But they are traditional banks that come with all of the traditional bank problems.

And yet. There is a decentralized bank that has now entered the metaverse. This crypto-based model will take on these Goliaths, with “simple, dependable digital banking procedures.”

Meta Bank DeFi has announced it has entered the fray. The photorealistic metaverse crypto project says it is the world’s first decentralized 360 solution bank in the metaverse. “The mission is to implement decentralized banking and to help users truly grasp the concepts of virtualization, by introducing them to the metaverse and putting the power in the hands of those who can determine their own terms financially.”


World’s first

Meta Bank Defi say that online banking is still a time-consuming chore. “Most developing countries lack the prerequisite infrastructure and willpower to provide fast and efficient internet financial services. Corporate banks and other financial institutions have too much control over the finances of private individuals and have been known to prioritize their interests over that of the very clients they were created to serve.”

Meta Bank Defi says that its new crypto-based platform eliminates the middlemen from the equation.

May Mahboob the Co-Founder at Meta Bank Defi gives us the hard sell via her avatar.

Meta Bank Defi has also revealed that its web 3.0 plans include more than just a bank. They say they will create a cross-platform mixed reality metaverse district. There will be a virtual bank, healthcare, gaming, casinos, a virtual NFT marketplace, art, entertainment, and other layers of society.

This is a teaser of their carsales showroom.

World’s first decentralized bank in the metaverse: Native token

The bank will also have their own token. “The web3.0 compatible MBD token is a multi-chain currency supported across different blockchains, leveraging modern technologies to support smart contracts, DeFi, staking, NFTs, Proof-of-Stake high scalability, fast transactions, and the gaming metaverse.”

World’s First Decentralized Bank in The Metaverse

They say, “Virtual Reality is here, and the future looks amazing. Hardware has advanced dramatically with better headsets available at very affordable prices, haptic suits, finger and eye tracking and even VR motion platforms allowing you to take a free walk in VR from the comfort of your home. What was missing is the final and ultimate destination. Meta Bank Defi is a place where you can come and experience the unknown, do the impossible, meet, work and have fun with people thousands of miles away in any Metaverse. We at Meta Bank Defi are making that vision a reality.”

Let’s hope this lives up to the promise.

Got something to say about the world’s first decentralized bank or anything else? Write to us or join the discussion in our Telegram channel.

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Nicole Buckler has been working as an editor and journalist for over 25 years, writing from Sydney, Melbourne, Taipei, London, and Dublin. She now writes from the crazy-amazing Gold Coast in Australia. Nicole first bought Bitcoin in 2013 not really understanding what she was doing. She is an accidental HoDLer.

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