Kuwait: Bitcoin, the leading cryptocurrency internationally, traded lower on Monday, falling by 0.01 percent to $19,106 as of 10:55 p.m. Riyadh time. 

Ether, the second most traded cryptocurrency, was priced at $1,049 down by 1.20 percent, according to data from CoinDesk.

Kuwait-based Islamic bank enters the metaverse

Warba Bank, a Kuwait-based Islamic bank, has become the latest corporation from the Middle East and North Africa region to enter the Metaverse, a network of 3D virtual worlds focused on social connection. 

The bank now occupies two sites in the metaverse, one on Decentraland and another on Sandbox.

The bank's presence in the metaverse is expected to enhance its communication with the younger generation, according to Bitcoin.com. 

“Warba Bank’s interest in entering this virtual reality comes within the framework of digital trends to transform into a Web3. The world of virtual reality is used in several advanced fields, including services, education, health and others,” Anwar Al-Ghaith, the financial institution’s vice president for Support Services and Treasury, said. 

He added: “Warba Bank aims to be close to its clients in virtual reality to introduce its products and services, as well as communicating with them in an innovative way that reflects Warba Bank’s image as a pioneer in digital transformation.”

According to a statement issued by the bank, it is now working to achieve its ambitious goals and enhance the advantages of digital services.

It will also focus on absorbing emerging technologies and artificial intelligence.