Israeli Fintech Kima and Mastercard Forge Path for 'DeFi Credit Card' Integration

Israeli fintech Kima, in collaboration with Mastercard's FinSec Innovation Lab, is embarking on a groundbreaking initiative to pioneer a "DeFi credit card," aiming to seamlessly integrate decentralised finance (DeFi) tools with traditional financial services like credit cards and bank accounts. The project, backed by the Israel Innovation Authority, marks a significant step towards bridging the gap between conventional and Web3 finance, with a focus on enhancing user accessibility and experience. Kima, renowned for its peer-to-peer money transfer and payment protocol operating on a smart contract-free blockchain, is set to unveil its expanded protocol alongside the launch of a mainnet and token in the second quarter of 2024. FinSec, supported by prominent entities including the Israel National Cyber Directorate and Finance Ministry, serves as a pivotal player in fostering collaborations between fintech and cybersecurity startups. The strategic partnership between Kima and FinSec underscores a shared commitment to surmounting technical and regulatory hurdles hindering the widespread adoption of DeFi, as articulated by Kima's co-founder and CEO, Eitan Katz. With an array of integrations and partnerships announced in 2024, Kima's rapid expansion trajectory reinforces its position as a trailblazer in the realm of blockchain-driven financial innovation.