Kima, a peer-to-peer payment and transfer protocol that does not rely on assets, has obtained funding for the project through an Israel Innovation Authority award.

The startup and the FinSec lab will work together to create a use case that connects DeFi protocols, platforms, and services to conventional financial instruments like bank accounts and credit cards.

Through the partnership, Kima's current payment protocol—which enables direct money transfers between bank accounts and blockchain without the need for smart contracts—will be enhanced.

FinSec will run a Kima node as part of the initiative and play an active role in its expanding cross-ecosystem network.

"If there is an easily accessible, secure, and cost-effective way to bridge blockchain networks with traditional financial means, then blockchain and DeFi will become fixtures outside the niche world of Web3," states Eitan Katz, CEO of Kima.