Santander’s Global Challenge Venue Surprises Everyone

• Santander Global Challenge is planning to conduct a ceremony on July 14.
• The competition is to build and promote solutions in the blockchain and DeFi world.

Spain’s largest bank Banco Santander and Oxentia Foundation are launching the Santander X Global Challenge | Blockchain and Beyond, an approach to promote startup incentives in blockchain technology. The highlight of the event is the award ceremony going to happen in Decentraland metaverse. 

The award ceremony is planned for July 14th, 10.00 AM EST at Decentraland – Santander X (-68,-118). This was officially announced on July 7 on the website. The prize award for the winners is a total of 120K Euros, which is distributed as 90K for three and 30K for the other three.

The finalists will be given a chance to present the solutions constructed by them in front of the Fintech Station, Banco Santander’s open innovation team. Those will also be promoted on the official channel and social media sites of the Santander’s.

Global Blockchain Challenge 

The adoption of Decentralised Finance (DeFi) and tokenization, as well as improving and expanding digital interactions with users through ideas like Web3 and the metaverse, are the motto of the event.

The competition is classified into two categories, startup and scaleup. A company with a maximum annual income of $300,000, a capital raise of between $100,000 and $1 million, and a cap of 25 employees comes under the startup category. 

The Scaleup category is specified for a business that has been duly incorporated for at least two years, generating an annual revenue of at least $300,000, has raised at least $1 million in the capital, and has at least 25 employees.