ANA NEO, Sompo Japan and Mitsubishi UFJ Bank team up to study metaverse financial services

ANA NEO, Sompo Japan Insurance Inc. and Mitsubishi UFJ Bank announced on November 8 that they have reached an initial agreement to collaborate in providing new financial services in the metaverse space. 

ANA NEO, an ANA Group company centered on airline business and virtual travel experience, is planning to launch its metaverse platform, ANA GranWhale, by this year-end

As part of the collaboration, the three companies will conduct research on regulations and models for providing financial services in the metaverse space; analyze various types of metaverse-related data. They will also examine ways of creating new business opportunities outside the financial sector.

Since May, Sompo Japan has been studying ways to hedge risks for users, operators and service providers in the metaverse in collaboration with ANA NEO. In October, Mitsubishi UFJ Bank started offering  insurance through its asset management platform “Money Canvas.” 

The collaboration aims to combine the three companies’ experiences and services to explore the next generation of Web3 metaverse financial services and verify service offerings.

As a first step, Mitsubishi UFJ Bank plans to open a store on ANA GranWhale and use the Money Canvas platform to provide users with financial information and offer a full range of services that take advantage of the characteristics of the metaverse.