Kima Network, the trailblazing asset-agnostic decentralized settlement protocol, has achieved a landmark in financial technology by facilitating the first-ever purchase of a tokenized stock using Israel’s digital shekel (CBDC). This groundbreaking transaction, part of the Bank of Israel’s exploratory CBDC initiative, highlights Kima’s unparalleled ability to bridge the gap between decentralized and traditional finance through its secure, patent-pending blockchain technology.
A Revolutionary Use Case: Tokenized Stock Purchase with Digital Shekels
As a part of the Bank of Israel’s digital shekel pilot program, Kima enabled a real-time delivery-vs-payment (DvP) settlement for tokenized assets, demonstrating the seamless integration of digital and fiat currencies. The process involved converting digital shekels into regular shekels after facilitating the tokenized stock purchase—all orchestrated through Kima’s innovative settlement layer.
To showcase the protocol’s utility, Kima developed PeerTrade, a conceptual trading platform. In this simulation, the buyer used digital shekels to purchase a tokenized share from a seller. Kima’s decentralized infrastructure acted as a trustless intermediary, ensuring the transaction’s security and efficiency while directly connecting both parties.
Key transaction elements included:
- Digital Shekel Lock and Release: Buyer funds were locked until the stock transfer was completed and then automatically released to the seller, ensuring both parties’ security.
- Digital Shekel to Regular Shekel Conversion: The digital shekel payment was seamlessly converted into traditional shekels, providing immediate usability in financial markets.
This pioneering transaction demonstrated how Kima’s protocol eliminates reliance on intermediaries, ensuring secure, instant, and fee-efficient settlements without the risks associated with smart contracts.
Unparalleled Technology: Kima’s Universal Payment Rail and Liquidity Cloud
At the core of this achievement lies Kima’s robust Universal Payment Rail (UPR) and Liquidity Cloud, which connect fiat and digital assets across multiple blockchains. These innovations allow for cross-currency transactions without tethering to specific payment systems, enabling:
- Hybrid Payments: Combining fiat and crypto seamlessly.
- Real-World Asset (RWA) Transactions: Simplifying tokenized asset exchanges.
- Cross-Border Transfers: Eliminating inefficiencies in international payments.
- E-Commerce and Gaming Applications: Enabling smooth and secure transactions for end users.
A New Paradigm for Financial Systems
“Today’s financial systems are burdened by inefficiencies, intermediaries, and unnecessary costs,” said Eitan Katz, CEO of Kima. “With this transaction, we’ve demonstrated the ability to perform real-time delivery-vs-payment using digital and fiat currencies without intermediaries or smart contracts. This milestone represents the first time a decentralized protocol has integrated digital currencies and fiat into a single atomic transaction.”
Katz added, “This innovation isn’t just a technological leap; it’s a step toward empowering individuals and financial institutions to transact freely, securely, and without the constraints of traditional systems.”
Kima’s Role in the Future of Finance
Kima’s achievement marks a turning point in global financial interoperability, setting the stage for broader adoption of decentralized finance (DeFi) technologies in traditional financial systems. The protocol’s secure and efficient infrastructure has far-reaching applications, including government-backed CBDCs, institutional-grade payment rails, and everyday transactions across ecosystems.
About Kima
Kima is a blockchain-based decentralized settlement protocol designed to unify fragmented financial systems. Its patent-pending technology ensures secure, efficient transactions across asset classes and ecosystems. Through innovations like the Smart Transaction and a developer-friendly SDK, Kima enables cross-chain, hybrid, and peer-to-peer commerce, bridging the gap between traditional and decentralized finance. Learn more at kima.network.
As the first to achieve this milestone, Kima Network is not just facilitating transactions—it’s reshaping the future of global finance.
