Interoperability-Focused Protocol Kima Closes $1 M Funding Round with Investment from Blockchange Ventures
26 July 2022, TEL AVIV — Kima announced today an investment of $1M from Blockchange that will close its latest funding round. Blockchange Ventures is a US-based venture capital firm supporting early-stage blockchain solutions. Blockchange joins other Kima investors from across the blockchain and fintech space, including Big Brain Holding and CoinX.
Kima develops an open protocol that allows for the fast and secure transfer of assets across multiple blockchains. While many cross-chain transfer solutions are prone to hacks and do not optimize their capital efficiency, Kima’s solution prioritizes efficient liquidity management. This is vital for the development of DeFi, as Kima’s protocol will underpin more sophisticated financial products that can utilize assets from numerous blockchains.
Kima also unites DeFi and TradFi by enabling low-cost crypto-fiat swaps via on- and off-ramps connecting the decentralized and traditional financial channels. With its novel cost-efficient approach, Kima offers high yields to liquidity providers, enabling active liquidity management, adaptive rewards, and more. The protocol also makes it easier for people to benefit from (and use) Web3 apps that rely on/use several blockchains.
Eitan Katz, Kima CEO, said, “Kima is transforming the nature of DeFi and the reputation of crypto by offering a novel approach to security and unparalleled efficiency. Support from Blockchange will be instrumental in helping us deliver our protocol and bring our solutions to more TradFi and DeFi entities worldwide.”
Ken Seiff, Managing Partner of Blockchange Ventures, said, “Kima is solving an existential issue that a number of companies in the DeFi space have faced in the last few months — the lack of safe and convenient mechanisms to transfer assets across different blockchains has added to the liquidity problems that companies must surmount to survive and grow. Kima’s novel approach to cross-chain swaps will directly ease these burdens, and we are proud to support Eitan and the team on their mission to build a more secure, liquid and efficient DeFi ecosystem.”
The latest investment round will help Kima develop its groundbreaking protocol, grow its expert team, and expand its global operations.
CEO Eitan Katz noted, “The need for interoperable solutions to blockchain challenges will remain instrumental as the DeFi market matures through recent market conditions. We are building a protocol that will have numerous use cases for diverse entities both in the Web3 space and other sectors.”
About Kima
Kima is a first-of-its-kind liquidity protocol that will entirely replace the use of insecure blockchain bridges and inefficient token wrapping. With Kima’s secure liquidity protocol, DeFi products and companies will be able to move crypto/tokens across blockchains 1:1 — underpinning a new generation of sophisticated financial products in the crypto ecosystem. Led by a team of Web3 experts, Kima is unlocking access to liquidity on any blockchain.
Learn more at www.kima.finance.
About Blockchange Ventures
Blockchange Ventures is a leading digital asset investment firm designed to invest in the early rounds of the largest blockchain outcomes. Blockchange has backed more than 70 companies from across the blockchain space, including Polkadot, Solana, Filecoin, and more.
Learn more at https://blockchange.vc/.
Press Contact
press@kima.finance
