Kima is seeking to bridge traditional and Web3 finance and make the user experience more manageable.
Israeli fintech Kima and Mastercard’s FinSec Innovation Lab have launched a project to develop a use case for linking decentralized finance (DeFi) tools and traditional services such as credit cards and bank accounts. It described the project as “mak[ing] a ‘DeFi credit card’ a reality.” The Israel Innovation Authority is supporting the project.
Kima is a peer-to-peer money transfer and payment protocol that operates a blockchain without smart contracts, which it describes on its website as “buggy and experimental.” It intends to expand its existing protocol and launch a mainnnet and token in the second quarter of 2024. FinSec will operate a Kima node and be a key shareholder in the network.
FinSec is supported by the Israel National Cyber Directorate, Finance Ministry, and Innovation Authority. It works with fintech and cybersecurity startups. The project with Kima was announced in July 2023.
