Coastal Financial Corporation, the Bank holding company for Coastal Community Bank, is making its first move towards the Metaverse. The Bank Holding Company revealed Coastal World, an immersive 3D web platform that promotes, educates, and informs visitors about digital banking solutions that best fit their lifestyle, values, or specific financial situations through a fun and engaging online experience.
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Eric Sprink, Chief Executive Officer, stated, “We consider this to be our first big step towards a marketplace in the Metaverse, marking a milestone for us. It signifies another stride towards connecting with our customers through innovative methods.”
Coastal World provides a gamified experience for digitally savvy users hungry for a different way to manage their money. Modeled after the San Juan Islands in Washington State, where the company is based, Coastal World is the setting for visitors to explore the islands by foot or boat, participate in games, help islanders, and earn Coastal Points with each activity. Users can visit the virtual store and use points earned on the platform to buy accessories for their avatars. Users can also engage with financial technology (Fintech) brands, including Aspiration, Bluevine, Greenwood, and more, through games and financial education.
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“We have grand aspirations for Coastal World,” Sprink said. “We aim to empower individuals with sound financial practices, enhance accessibility to banking services, and inject an element of enjoyment into the process. We firmly believe that banking doesn’t have to be mundane, and it should be available to everyone.”
Coastal Financial Corporation (NASDAQ: CCB), is an Everett, Washington-based Bank holding company with Coastal Community Bank (the “Bank”) a full-service commercial bank, as its sole wholly owned banking subsidiary. The Bank operates through its 14 branches in Snohomish, Island, and King Counties, the Internet, and its mobile banking application. The Bank, through its CCBX division, provides banking as a service (“BaaS”) that allows our broker-dealer and digital financial service partners to offer their customers banking services. As of March 31, 2023, we had total assets of $3.45 billion, total gross loans, including loans held for sale, of $2.84 billion, total deposits of $3.10 billion, and total shareholders’ equity of $258.8 million.
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