Israeli startup Kima is running a project with Mastercard’s FinSec Innovation Lab to connect decentralized finance (DeFi) applications with fiat systems.
Kima, which describes itself as an asset-agnostic peer-to-peer money transfer and payment protocol, has secured a grant from the Israel Innovation Authority to fund the plan.
The startup and FinSec lab will focus on developing a use case that links traditional financial instruments such as bank accounts and credit cards with DeFi protocols, platforms and services.
The collaboration aims to expand Kima’s existing payment protocol, which enables direct fund transfers via blockchain and bank accounts without the use of smart contracts.
As part of the project, FinSec will operate a Kima node and act as a stakeholder in its growing cross-ecosystem network.
Eitan Katz, CEO of Kima, says: “Blockchain and DeFi can only become permanent fixtures outside the niche world of Web3 if there is an easily accessible, secure and affordable way to connect blockchain networks to traditional finance.”
Stablecoins have become a key component in the digital asset ecosystem, providing a bridge between…
Amerian Express Ventures has joined an $18 million funding round from Sedric AI, a startup…
Binance Kazakhstan has received approval for a full regulatory license from the Astana Financial Services…
The Bank of Spain recently published a report outlining the potential of satellite data for…
The UK, US and EU are among the signatories to the Council of Europe Framework…
The US Federal Deposit Insurance Corporation (FDIC) is considering plans to protect customers from fintech…
This website uses cookies.