Fresh off its announcement that it would be joining The Sandbox metaverse by buying a plot of virtual real estate, HSBC revealed that it has launched a fund to capture investment opportunities in the metaverse for some of its richest clients in Singapore and Hong Kong. 

Don’t miss: HSBC Is Now the First Global Financial Service Provider to Enter The Sandbox Metaverse

In a statement on April 6, HSBC said its Metaverse Discretionary Strategy portfolio, which is managed by its asset management arm, will focus on investing within the metaverse ecosystem and that it would do so across five segments. These are infrastructure, computing, virtualisation, experience and discovery, and interface.

“The metaverse ecosystem, while still at its early stage, is rapidly evolving,” said Lina Lim, regional head of discretionary and funds for investments and wealth solutions in the Asia Pacific at HSBC.

“We see many exciting opportunities in this space as companies of different backgrounds and sizes are flocking into the ecosystem,” she continued. 

In its statement, HSBC said that its discretionary portfolio was designed specifically for its high net worth and ultra-high net worth professional investors and accredited investor clients in Hong Kong and Singapore.

This comes as the number of millionaires and billionaires in Asian countries such as India and China steadily increases. 

The bank is also pumping in SG$3.5 billion into its wealth and personal banking business in an attempt to become Asia’s top wealth manager by 2025.

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