By Joe Hoppe
Tintra PLC shares rose Thursday after it said it has developed a built-for-purpose internet banking platform as part of its plan to create the first bank capable of functionally operating within the so-called metaverse.
Shares at 0946 GMT were up 20.0 pence, or 9.8% at 225.0 pence.
The investment-management company said that while other banks are opening lounges and branches in the metaverse–a network of virtual worlds focused on social connection–its infrastructure will allow financial and regulatory communication layers between currently split-up metaverse projects, along with providing a bridge to offline, traditional financial systems.
“The advanced technology the group is developing is set, in the board’s view, to revolutionize the regulatory environment and make access to the global marketplace as seamless in Africa, Latin America or Asia tomorrow as it is in Europe or the United States today,” the company said.
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By Joe Hoppe