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Israeli FinTech KIMA, Mastercard Launch DeFi Credit Card Project

Israeli FinTech company KIMA and global payments giant Mastercard have joined forces to launch a decentralized finance (DeFi) credit card project. The initiative aims to bridge traditional finance with the rapidly growing DeFi space, offering users innovative solutions for accessing credit and managing their finances.

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Israeli FinTech company KIMA and global payments giant Mastercard have joined forces to launch a decentralized finance (DeFi) credit card project. The initiative aims to bridge traditional finance with the rapidly growing DeFi space, offering users innovative solutions for accessing credit and managing their finances.

The partnership between KIMA and Mastercard represents a significant milestone in the evolution of decentralized finance, as it brings together traditional financial infrastructure with emerging blockchain technology. By leveraging DeFi protocols and smart contracts, the project seeks to revolutionize the way credit cards are issued, managed, and utilized.

The DeFi credit card project promises to offer users a range of benefits, including enhanced security, transparency, and accessibility. Through decentralized governance mechanisms, users can enjoy greater control over their funds and participate in decision-making processes related to the operation of the credit card platform.

One of the key features of the DeFi credit card project is its integration with KIMA’s advanced financial technology solutions. KIMA, known for its expertise in blockchain-based finance and digital asset management, brings valuable insights and capabilities to the partnership, complementing Mastercard’s global reach and industry experience.

The project is expected to unlock new opportunities for individuals and businesses seeking alternative financial services, particularly in regions with limited access to traditional banking infrastructure. By harnessing the power of decentralized networks, the DeFi credit card project aims to democratize access to credit and empower underserved communities around the world.

The announcement of the collaboration between KIMA and Mastercard has generated excitement and anticipation within the FinTech and blockchain communities. As the project progresses, stakeholders will be closely monitoring its development and impact on the broader financial ecosystem.

In summary, the partnership between KIMA and Mastercard to launch a DeFi credit card project represents a significant step forward in the convergence of traditional finance and decentralized technologies. By combining their expertise and resources, the two companies aim to unlock new opportunities for innovation and financial inclusion, paving the way for a more accessible and equitable financial future.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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