As blockchain and cryptocurrency Ecosystem expands ,major financial institutions are growing more interested in the space, with banking giant Santander planning an awards ceremony that is going to take place in the metaverse.

 

Santander  bank said in the announcement  on its website on July 7"

Santander is going to hold an awards ceremony in the Decentraland metaverse on July 14 for its ‘Santander X Global Challenge |

 Blockchain"

 

Specifically, the ceremony is the conclusion of the competition run in partnership with Oxentia Foundation, which saw a total of about 400 entries. The deadline for the applications was June 9, 2022, after which the jury of international experts narrowed down the list to 20 finalists. 

On July 7, these finalists presented their solutions to Fintech Station, Santander’s open innovation team.

Among the 20 finalists – ten startups and ten scaleups – six will be chosen as the best in providing solutions that focus on technologies ranging from privacy and security for blockchains to the adoption of decentralized finance (DeFi) and tokenization to enhancing and expanding digital interactions through Web3 and the metaverse.

 

There will be 6(six) who will become part of the bank’s global entrepreneurship community Santander X 100, providing them access to resources such as training, capital, customers, and connections.

 

The awards ceremony will see these six winners receiving €120,000 (around $121,985)  altogether – the three winning startups will receive €10,000 each, while the three winning scaleups will receive €30,000 each.