Video Game Granted Banking License

This is weird – having a video game granted a license by Swedish banking authorities, effectively turning the virtual environment into a bank. The game is known as Entropia Universe, and it has just been granted a license to be a bank by the Swedish Financial Supervisory Authority. Game developers Mindark claim that the banking system within the game ought to be up and running within a year, where one can trade 10 Project Entropia Dollars (PEDs) for $1. The whole idea of including a bank within the game is due to the fact that Entropia Universe is absolutely free, but since items within the game requires some cold, hard cash, these transactions are made easier in-game with the banking license. In addition, the game will also offer bank accounts which enables users to accumulate interest, pay bills and deposit their paychecks.