{"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

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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