Kimas Mastercard Deal Unleashes Bold Stablecoin Prepaid Cards Top-ups
- Kima partners with Mastercard to enable stablecoin top-ups for prepaid cards
- Integration removes intermediaries and streamlines crypto-to-fiat transactions
- Mastercard expands its crypto initiatives, to accelerate stablecoin adoption
Mastercards sandbox program has partnered with Kima, a decentralized settlement protocol, to enable users to top up prepaid cards with USDC and USDT. This partnership eliminates intermediaries in crypto-to-fiat transactions, which supports Mastercards plan to onboard digital assets into mainstream finance.
The partnership makes it easy for crypto users to add money to prepaid cards through self-custody wallets. Kimas technology makes it easier for public blockchains, private ledgers, and banking systems to communicate with each other. It enables seamless payments, which increases the use of stablecoins in everyday financial transactions.
Eitan Katz, Kimas CEO, said that this partnership makes it easier for customers to transfer stablecoins between different financial systems. The integration is part of Kimas efforts to create settlement layers that are compatible with all types of assets, to boost security and efficiency, and to encourage wider crypto adoption.
Kimas Partnership with Mastercards Sandbox
Kima has achieved important milestones in Mastercards ecosystem, such as partnerships with prepaid issuers and the introduction of stablecoin solutions on Mastercards Sandbox-as-a-Service platform. These solutions allow users to fund their accounts from self-custody wallets, which shows the real-world applications of Kimas infrastructure.
Furthermore, Kima intends to replace traditional smart contracts with peer-to-peer financial transfers to enable seamless transactions between different ecosystems. This method improves security and makes it easier to transfer assets between blockchains and conventional bank accounts. Kimas model makes transactions as easy as sending a message.
Mastercard enables Kima to access financial institutions, regulators, and technology experts. This partnership helps Kima work with banks and fintechs to enhance the secure integration of blockchain technology with full technical support.
Mastercards MoonPay Partnership Boosts Stablecoin Expansion
At the same time, Mastercard has collaborated with MoonPay to facilitate the adoption of prepaid cards across the world. With MoonPays infrastructure, the new prepaid cards enable users to send and receive payments in USDT and USDC. MoonPays recent purchase of Iron enables instant conversion of stablecoins to fiat currency.
The move strengthens Mastercards dedication to offering crypto services despite the lack of clarity in digital asset regulations. The U.S. Securities and Exchange Commission (SEC) has not yet clarified the classification of yield-bearing and algorithmic stablecoins. However, Mastercard continues to develop a stablecoin infrastructure, citing their importance in cross-border payments.
Mastercard has increased its efforts to include digital currencies in its payment system after Visa announced a stablecoin pilot program in Latin America. Mastercards alliance with MoonPay and previous deals with crypto companies show its ambition to lead in the crypto payments sector.
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Read more: https://www.tronweekly.com/kima-mastercard-deal-enables-stablecoin-top-ups/
Text source: TronWeekly
