[Request] Android Emulator / Sandbox on an Android Host

Hello XDA,

Does anyone know of any development of booting an Android image from an Android phone, or any kind of sandboxing environment?
I know we can boot into a linux image. Surely we could do the same with an Android image - has anyone tried?
I'm one of those Barclays bank users who cannot user their apps due to rooting!

Thanks in advance!