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Mizuho Group eyes use of metaverse for financial services

Yomiuri Shimbun file photo
Mizuho Bank, Ltd. building in Tokyo on April 7, 2021

TOKYO (Jiji Press) — Mizuho Financial Group Inc. said Tuesday that it is considering providing financial services through virtual spaces known as the metaverse.

It aims to create a new way of doing business with customers, for example, through the establishment of virtual outlets to offer consulting and payment services.

The group will have its core unit, Mizuho Bank, participate in a virtual reality event in August to examine whether the use of the metaverse is effective in increasing the group’s profits.

The metaverse refers to online virtual spaces where users are represented as computer-generated avatars.

A virtual Mizuho Bank outlet will be created for the August event, allowing visitors to enjoy a financial quiz and participate in a roundtable discussion with Mizuho Bank employees. After assessing the event, the megabank group will consider offering consulting services and financial seminars, such as those on asset management, for individual customers and a matching service to help corporate customers find new clients.