{"id":655242,"date":"2024-11-27T16:54:39","date_gmt":"2024-11-27T16:54:39","guid":{"rendered":"https:\/\/wncen.com\/?p=655242"},"modified":"2024-11-27T16:55:13","modified_gmt":"2024-11-27T16:55:13","slug":"kima-successfully-executes-the-first-cbdc-purchase-of-tokenized-stocks-on-a-stock-exchange","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/company\/kima-successfully-executes-the-first-cbdc-purchase-of-tokenized-stocks-on-a-stock-exchange\/","title":{"rendered":"Kima successfully executes the first CBDC purchase of tokenized stocks on a stock exchange"},"content":{"rendered":"
Kima completes the first CBDC transaction of a tokenized stock during the Bank of Israel event at the Tel Aviv Stock Exchange<\/span><\/p>\n Kima\u2019s secure interoperability protocol enables transaction settlements between untethered financial systems through its patent-pending blockchain technology, eliminating potential smart contract vulnerabilities<\/span><\/i><\/p>\n \u00a0<\/b>Kima<\/span><\/a>, the asset-agnostic, peer-to-peer money transfer and payment protocol, successfully facilitates the transfer of a tokenized stock via digital shekel, demonstrating a successful use case of its cross-ecosystem interoperable delivery-vs-payment (DvP) solution. Administered by the <\/span>Bank of Israel<\/span><\/a> as part of a research initiative to potentially adopt a central bank digital currency (CBDC), the successful purchase of a tokenized share through a digital shekel was converted into regular shekels to finalize the process using Kima\u2019s settlement layer.<\/span><\/p>\n To demonstrate the utility of its transfer protocol, Kima built an imaginary trading platform called PeerTrade, which facilitated an atomic swap of the tokenized share. Kima\u2019s secure decentralized settlement layer orchestrated the transaction instead of an intermediary, directly linking the buyer interested in purchasing the stock using her digital shekels with the seller, who held a tokenized share in their wallet to receive the payment into their bank account in the form of regular shekels.\u00a0<\/span><\/p>\n To facilitate the transaction, Kima utilized two sets of API calls within an exploratory sandbox designed by the Bank of Israel for its <\/span>digital shekel pilot program<\/span><\/a>:<\/span><\/p>\n Throughout the entire process, Kima\u2019s technology ensured the transaction was safe and verified. The process took place instantly, while Kima\u2019s blockchain functioned as a decentralized escrow without any intermediaries or smart contracts, extra fees, delays, or unforeseen occurrences.<\/span><\/p>\n Kima\u2019s vast infrastructure includes a Universal Payment Rail (UPR) and Liquidity Cloud. These key technologies connect fiat and digital assets across multiple blockchains, allowing transactions to occur without being tied to a specific currency or payment rate. Kima\u2019s settlement layer is foundational to handling its wide-ranging applications: Cross-border money transfers, hybrid payments, real-world tokenized asset transactions, gaming, e-commerce, and DeFi.\u00a0<\/span><\/p>\n \u201cToday\u2019s financial systems are weighed down by barriers and intermediaries that slow transactions and add unnecessary costs,\u201d says Eitan Katz, CEO of Kima. \u201cFor the first time, our solution has enabled an unprecedentedly efficient transaction, performing real-time delivery-vs-payment without intermediary escrow or smart contracts. After securely swapping assets, the system seamlessly executed an off-ramp action within the same atomic transaction\u2014marking the first time a decentralized chain has facilitated a transaction that integrates both digital currencies and fiat. This protocol\u2019s flexibility empowers citizens and financial institutions to conduct smooth, cross-asset, and cross-currency transactions without complex conversions or restrictions on asset type.\u201d<\/span><\/p>\n Kima is a blockchain-based, asset-agnostic decentralized settlement protocol designed to address fragmentation across crypto and traditional finance. Kima eliminates vulnerabilities through its patent-pending technology as a multi-asset-class gateway, ensuring secure, efficient transactions. With its novel financial primitive\u2014the Smart Transaction\u2014and an intuitive SDK for Web3 and Web2 apps, Kima enables interchain and hybrid transactions, expanding accessibility to a broader audience. Kima\u2019s settlement layer supports multi-ecosystem payments, peer-to-peer commerce, CeFi\/DeFi services, cross-chain DEX swaps, and omnichannel wallets, seamlessly bridging fiat and crypto with a focus on security and user accessibility. Learn more at<\/span> https:\/\/www.kima.network<\/span><\/a>.<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Kima completes the first CBDC transaction of a tokenized stock during the Bank of Israel event at the Tel Aviv Stock Exchange Kima\u2019s secure interoperability protocol enables transaction settlements between untethered financial systems through its patent-pending blockchain technology, eliminating potential smart contract vulnerabilities \u00a0Kima, the asset-agnostic, peer-to-peer money transfer and payment protocol, successfully facilitates the transfer of a tokenized stock via digital shekel, demonstrating a successful use case of its cross-ecosystem interoperable delivery-vs-payment (DvP) solution. Administered by the Bank of Israel as part of a research initiative to potentially adopt a central bank digital currency (CBDC), the successful purchase of a tokenized share through a digital shekel was converted into regular shekels to finalize the process using Kima\u2019s settlement layer. To demonstrate the utility of its transfer protocol, Kima built an imaginary trading platform called PeerTrade, which facilitated an atomic swap of the tokenized share. Kima\u2019s secure decentralized settlement layer orchestrated the transaction instead of an intermediary, directly linking the buyer interested in purchasing the stock using her digital shekels with the seller, who held a tokenized share in their wallet to receive the payment into their bank account in the form of regular shekels.\u00a0 To facilitate the transaction, Kima utilized two sets of API calls within an exploratory sandbox designed by the Bank of Israel for its digital shekel pilot program: Digital Shekel Lock and Release (3-party Lock): The buyer\u2019s funds were locked until the stock was transferred and immediately released to the seller upon completion, protecting both parties throughout the process.\u00a0 Digital Shekel to Regular Shekel Conversion (Defunding): This process converts the digital shekel payment into a usable form with purchasing power in financial markets.\u00a0 Throughout the entire process, Kima\u2019s technology ensured the transaction was safe and verified. The process took place instantly, while Kima\u2019s blockchain functioned as a decentralized escrow without any intermediaries or smart contracts, extra fees, delays, or unforeseen occurrences. Kima\u2019s vast infrastructure includes a Universal Payment Rail (UPR) and Liquidity Cloud. These key technologies connect fiat and digital assets across multiple blockchains, allowing transactions to occur without being tied to a specific currency or payment rate. Kima\u2019s settlement layer is foundational to handling its wide-ranging applications: Cross-border money transfers, hybrid payments, real-world tokenized asset transactions, gaming, e-commerce, and DeFi.\u00a0 \u201cToday\u2019s financial systems are weighed down by barriers and intermediaries that slow transactions and add unnecessary costs,\u201d says Eitan Katz, CEO of Kima. \u201cFor the first time, our solution has enabled an unprecedentedly efficient transaction, performing real-time delivery-vs-payment without intermediary escrow or smart contracts. After securely swapping assets, the system seamlessly executed an off-ramp action within the same atomic transaction\u2014marking the first time a decentralized chain has facilitated a transaction that integrates both digital currencies and fiat. This protocol\u2019s flexibility empowers citizens and financial institutions to conduct smooth, cross-asset, and cross-currency transactions without complex conversions or restrictions on asset type.\u201d About Kima Kima is a blockchain-based, asset-agnostic decentralized settlement protocol designed to address fragmentation across crypto and traditional finance. Kima eliminates vulnerabilities through its patent-pending technology as a multi-asset-class gateway, ensuring secure, efficient transactions. With its novel financial primitive\u2014the Smart Transaction\u2014and an intuitive SDK for Web3 and Web2 apps, Kima enables interchain and hybrid transactions, expanding accessibility to a broader audience. Kima\u2019s settlement layer supports multi-ecosystem payments, peer-to-peer commerce, CeFi\/DeFi services, cross-chain DEX swaps, and omnichannel wallets, seamlessly bridging fiat and crypto with a focus on security and user accessibility. Learn more at https:\/\/www.kima.network. <\/p>\n","protected":false},"author":65,"featured_media":655246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[79568],"tags":[],"class_list":["post-655242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company"],"acf":[],"yoast_head":"\n\n
About Kima<\/b><\/h3>\n