Kima Joins Mastercard’s Sandbox Program

Kima, a decentralized settlement protocol, has integrated into Mastercard’s sandbox initiative. This integration allows prepaid cards to be topped up with USDC and Tether’s USDt stablecoins directly from self-custody wallets. The solution supports over 10 different blockchain networks.

Kima CEO Eitan Katz emphasized the practicality of stablecoins for everyday use, noting the system removes intermediaries and simplifies crypto-to-fiat conversion. “Our goal at Kima is to eliminate barriers between digital assets and traditional finance,” Katz stated.

Interoperable and Asset-Agnostic Infrastructure

Katz described Kima’s infrastructure as asset-agnostic and built for interoperability. The protocol supports public blockchains, private ledgers, and traditional banking systems — simplifying cross-ecosystem value transfer.

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This initiative aligns with Mastercard’s broader mission to mainstream stablecoins. Katz added that crypto and fiat shouldn’t be seen as opposites, but rather as complementary tools in the modern financial ecosystem.

Supporting ECB’s Digital Euro Initiative

Earlier this month, the European Central Bank (ECB) selected Kima as one of 70 private-sector firms to collaborate on the digital euro initiative. ECB board member Piero Cipollone praised the range of proposals, calling them a “catalyst for financial innovation” in Europe.

Despite its institutional integrations, Kima ensures that users maintain full control over their private keys. Compliance checks, including AML and KYC, are managed externally, and every transaction is cryptographically validated at the protocol level.

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Leading the equity round were Blockchange, FinSec Innovation Lab, a research and development accelerator out of the payment behemoth Mastercard, and a few angel investors. According to a release, more assistance from the token fundraising came from Outlier Ventures, Blockchange, Big Brain Holdings, Castrum Capital, Kangaroo Capital, and Maven Capital.

Kima develops a Web3 distributed settlement system linking credit cards and fiat bank accounts with distributed finance (DeFi) capabilities.

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Along with expanding its research and development, finance arm, and regulatory processes, the company intends to utilize the money to onboard more institutions, payment systems, and cross-chain distributed apps.

“These funding rounds support our continuous efforts to bridge the gaps between traditional systems and the blockchain space on-chain, enabling what was once considered impossible,” said Kima co-founder and CEO Eitan Katz in a statement. “They will help us to improve and enlarge our ecosystem, bringing in for the first time actual inter-ecosystem interoperability.”

The post Kima Raises $5M for Distributed Settlement System appeared first on Coin Engineer.