Emirati lender Commercial Bank International (CBI) has launched CBIx, a new venture and innovation fund dedicated to building and investing in financial products aimed at the region’s burgeoning gamer demographic. The fund’s inaugural initiative is a partnership with global payments giant Mastercard to develop a gamer-focused credit card.
Tapping an Overlooked Market
CBIx aims to address a significant gap in the market by catering specifically to the needs of online gamers. “No one is catering to gamers. It’s a very large, young segment that’s been overlooked,” said Ala Aljayyusi, Managing Director of CBIx. “We’re telling them: ‘we understand you live online, and we’ll do everything digitally for you’.”
The planned credit card will feature a rewards system tailored to the gaming and online sectors. While specific rewards have not yet been disclosed, CBIx is reportedly in discussions with major console providers to create relevant incentives for cardholders. This strategy mirrors other targeted financial products in the UAE, such as Emirates NBD’s Manchester United-themed cards, demonstrating a proven model for niche demographic engagement.
A Strategic Play in a Booming Regional Market
CBIx’s launch is strategically timed to capitalise on the explosive growth of the gaming and esports industry across the Gulf. Saudi Arabia recently hosted the Esports World Cup with a $70 million prize pool, attracting 750 million online viewers. Furthermore, major investments, including the Saudi Public Investment Fund’s (PIF) consortium buying EA for $55 billion and the $50 million buyout of the digital card game Baloot, highlight the immense economic potential of the sector.
“By offering a customised credit card product for gamers, CBIx is recognising that this audience is comfortable with digital transactions and is likely to appreciate tailored financial tools,” noted Lucy Chow, an investor and author on esports.
Beyond Gaming and Future Tech
The ambitions of CBIx extend beyond just gaming-centric financial products. The fund is actively exploring investments in adjacent technology startups. Discussions are underway with companies specialising in disaster response simulation using video-game technology, holographic imagery, and AI-powered satellite solutions for carbon credits.
Tokenization of real-world assets is another core pillar of the fund’s strategy. Building on the experience gained from launching the Middle East’s first tokenised money-market fund with Qatar National Bank (QNB), CBIx may integrate tokenization into its reward systems for gamers, positioning itself at the forefront of financial innovation.
About CBIx
CBIx is the venture and innovation arm of Commercial Bank International (CBI), a UAE-based lender listed on the Abu Dhabi Securities Exchange. The fund was established to build and invest in technology-driven products and startups, with an initial focus on the rapidly growing gaming community and adjacent high-tech sectors.
Source: AGBI
