DeFi

Kima offers to create a “DeFi credit card”

Published

8 months ago

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Israeli startup Kima is leading a project with Mastercard’s FinSec Innovation Lab to connect decentralized finance (DeFi) applications to fiat systems.

Kima, which describes itself as an asset-agnostic peer-to-peer money transfer and payment protocol, secured a grant from the Israel Innovation Authority to fund the plan.

The startup and FinSec lab will focus on developing a use case connecting 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 facilitates direct money transfers via blockchain and bank accounts without the use of smart contracts.

As part of the project, FinSec will operate a Kima node and serve as a stakeholder in its growing cross-ecosystem network.

Eitan Katz, CEO of Kima, says: “The only way for blockchain and DeFi to become mainstream outside of the niche world of Web3 is to find an easily accessible, secure and affordable way to connect blockchain networks with the means traditional financial institutions. »

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