First Meta to launch virtual financial services

First Meta to launch virtual financial services. Singapore-based start-up First Meta is to launch credit card and corporate finance services shortly into Second Life.

Credit cards will be offered to residents and virtual property developers will be targeted with commercial banking.

Second Life has seen a number of financial services companies enter recently, with several more on the way. Due to the economic backbone of Second Life, it’s a no-brainer for companies offering financial services to set-up in virtual worlds. Afterall, in a way, it’s just another ‘country’ (albeit virtual) with residents, currency and transactions.

Although First Meta is based in Singapore and is the first to (plan to) offer in-world finance, European financial companies have been quick to spot the opportunities. ABN Amro for example, have had a presence for several months. Also French bank, BNP Paribas recently launched L’Atelier, an island dedicated to banking technology. Other European companies in this category already in Second Life include Saxo Bank (Denmark) and BCV (Swiss Bank).
And of course, where there’s money, there’s the potential for money laundering. Virtual washing machine anyone?

Financial Services companies wishing to explore ways of maximising virtual world opportunties can request the Finance case study, ‘High Interest Rates‘ here, or contact K Zero directly.