Posted Monday, March 5th, 2007, at 10:30 am Eastern by Mark Wallace

I missed this on Friday, but it makes a nice fulfillment of something I was pondeirng a couple of weeks ago: what if a bank started offering real-world financial services through the virtual world of Second Life? Reuters’ Adam Pasick has the news that just such a thing is coming: “Denmark’s Saxo Bank plans to offer Second Life residents the ability to manage their real-life financial portfolios from within the virtual world, and may eventually create a market to trade the Linden dollar against real-world currencies,” he writes. It’s still in an early stage, but it sounds like Saxo will allow people to access their real-world trading accounts from within Second Life, and perhaps eventually give them the option to receive a portion of trading profits in Linden dollars. Saxo sounds interested in creating a forex market for Lindens as well, though it won’t do so at the moment because of serious doubts about how the L$ is managed. Having real-world financial institutions get into the services market, though, should help push the Linden-dollar economy forward. This will be an interesting one to watch.


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