Kinesis Money: Gold-backed Stablecoins

[Peter]

In a forum dedicated to Gold and Cryptocurrencies, what fits better than a gold-backed stablecoin? 😀

 

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The Kinesis platform was formed by strategic partner, Allocated Bullion Exchange (ABX), a leading online exchange platform for physical bullion. ABX brings over 10+ years of institutional precious metals heritage to the secure management and trading of Kinesis users’ precious metals.

Formed in 2011, ABX has amassed a global vaulting network covering Dubai, Hong Kong, Istanbul, Vaduz, London, New York, Singapore, Sydney, Toronto, Zurich, Panama City, Batam and Brisbane.

Through its unique foothold in the precious metals industry, ABX ensures Kinesis users experience the highest level of security from industry leaders: Brinks, Loomis, and Malca Amit.

 

 

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Kinesis has introduced a new form of money to stand the test of time and overcome the pitfalls of traditional currencies susceptible to inflation, weakened value and eventual collapse. In today’s model where more and more money is printed and the value of that currency is eroded, economies and individuals are left to suffer the consequences.

Following years of strategic navigation and meticulous planning, Kinesis was established in 2018 to address that very problem. CEO and founder, Thomas Coughlin, brought forward Kinesis as the solution; an entirely new monetary system, based on the proven, physical value of precious metals – not paper promises.

Based on fully allocated, precious metals, Kinesis gold KAU and silver KAG reintroduce physical backing to money, with the everyday utility of fiat currency. By digitalising gold and silver, Kinesis reintroduced the enduring value of precious metals to all, via an accessible, easy-to-use platform.

 

 

 

Edited Friday at 03:58 PM by Peter

[Peter]

 

 

Low-cost SEPA deposits live for European users

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In November, Kinesis introduced a new, low-cost SEPA deposit option to the platform. The option brings greater efficiency and value to all EEA-based Kinesis account holders, who can now deposit their Euro (EUR) funds with ease.

The addition of SEPA transfers enables European account holders to make EUR-to-EUR deposits as easily as with regular domestic bank transfers, with a fixed rate of €0.30 per transaction charged on the Kinesis side, regardless of the amount of funds sent.

Single Euro Payments Area (SEPA) transfers are widely recognised as one of the most time and cost-efficient ways to send and receive Euros within the EEA. Importantly, SEPA payments are operated through IBAN identification codes, designed to protect users’ account data.

The new local deposit option makes it easier for users to fund their Kinesis accounts and convert Euros into spendable precious metals.

 

 

[Peter]

... but is the gold really there? 😀

 

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Q4 2023 quarterly audit

Kinesis successfully passed the Q4 independent precious metals audit, conducted by the leading global audit and inspection specialist, Inspectorate International.

The independent audit once again verified that all Kinesis gold (KAU) and silver (KAG) within the Kinesis Monetary System are backed by 1:1 allocated physical gold and silver bullion. 

The completion of Kinesis’ Q4 2023 audit provides the community with absolute reassurance that their gold and silver holdings are in safe hands. Though delivering audits every quarter, Kinesis shows an enduring commitment to upholding the highest standard of security and transparency for the Kinesis community. 

The Q4 2023 audit is available to view on our website here. 

 

 

[Peter]

Indonesia Update

 

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Following the official nationwide launch of the Kinesis-powered physical gold trading applications, POSPay Gold and JFX Gold X, Kinesis has already begun to see an increase in Indonesian users on the platform. 

The number of accounts on these apps has steadily increased, now numbering over 5000 in total. A significant number of small gold transactions coming from individual users can be seen coming through the Kinesis Exchange, with expectations of significant growth in account and volumes in the new year.

POSPay Gold, created in partnership with the Indonesian state-run postal service, PT Pos, and JFX Gold X, created in partnership with the Jakarta Futures Exchange, provide Indonesia’s population with instant access to physical gold trading and ownership, supporting financial inclusion and encouraging the nation’s digital transformation.

This is just the beginning, and the new year will see several new initiatives, including the soft and then grand launch of NU in early Q1 2024. Kinesis gold (KAU) will be added to the mobile apps of two major Indonesian banks; the use of gold KAU is registered with Badan Pengelola Keuangan Haji – BPKH (the state-owned Hajj fund management agency) with over US$10 billion assets under management.

In addition, we are very proud to announce that PT Kinesis Monetary Indonesia is now listed as one of the very few Self-Regulated Organisations (SRO) under the Indonesian commodity industry regulator, Bappebti and the Ministry of Commerce. 

 

 

[Peter]

Kinesis Brings Apple Pay to Kinesis Virtual Card Users
 

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The Kinesis Virtual Card can now be added to Apple Wallet, enabling iPhone users to make contactless payments worldwide using gold, silver, and crypto — instantly converted to fiat at millions of stores globally. 
With Google Pay already available, the Apple Pay integration ensures faster, more convenient in-app and web purchases for Kinesis users in 70+ countries, further expanding the utility of digital asset spending. 
The Kinesis Virtual Card supports real-time transactions in gold, silver and digital currencies straight from users’ portfolio balance, with instant conversion to fiat at the point of sale, wherever Mastercard is accepted.

 

[Peter]

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Edited Friday at 03:51 PM by Peter

[Peter]

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Edited Friday at 03:51 PM by Peter

[Peter]

Gold and silver payments at physical stores

Following the launch of Kinesis Pay in February, which allows online merchants to accept payments in gold (KAU) and silver (KAG), the latest iteration of Kinesis Pay brings gold and silver payments to shops and businesses near you.

The release of new printable, reusable Kinesis Pay QR codes makes it easier for businesses and shop owners to accept KAU and KAG payments at their physical locations. 

The Kinesis Pay QR codes can be downloaded from the merchant dashboard and displayed on any shop counter, enabling Kinesis users to scan the QR code and pay with their gold and silver. The new feature is expanding the real-world utility of precious metals and the visibility of gold and silver as a reliable alternative to fiat currencies.

Kinesis Pay is a highly scalable feature that connects business owners with Kinesis’ bespoke payment rail built for accepting Kinesis gold (KAU) and silver (KAG). With Kinesis Pay, Kinesis users can purchase merchants’ products and services directly, using their gold and silver as money.

The Kinesis Pay update is now available for web and Android applications, with the iOS update scheduled for release soon. 

Edited Friday at 03:58 PM by Peter

[Peter]

Q3-Q4 2023 – Quarterly Update

Support Centre Restructure

In recent months, the Kinesis team has undertaken a comprehensive restructuring of our Support Centre, consisting of a complete redesign of the user experience (UX) and a content update. This initiative involved the revision of approximately 47,000 words of support articles and the introduction of an intuitive new navigation structure.

Users seeking to familiarise themselves better with the Kinesis Monetary System can now explore a greater selection of categories and articles covering the vast range of products and services Kinesis offers.

The new User Guides section comprises a series of beneficial step-by-step walkthroughs and informative learning videos hosted by some familiar faces for many of you, the Kinesis account executives. Furthermore, from the Support Centre homepage, users now have more direct access to our community forum, where they can engage with fellow members to collectively explore the platform or discuss the latest milestones achieved by Kinesis.

Beyond its pleasing aesthetics, the new layout represents a significant stride in enhancing user experience and delivering information in a more straightforward and accessible manner to our community.

[Peter]

Q3-Q4 2023 – Quarterly Update

SEPA deposits for European users 

The introduction of SEPA transfers to the Kinesis platform brings greater ease and value to EEA-based Kinesis account holders*, who will be able to deposit their Euro (EUR) funds as conveniently as a regular domestic bank transfer.

Additionally, the new deposit option allows each Kinesis user to create their own, unique virtual IBAN account kept solely in the holder’s name and separately from Kinesis, further safeguarding their deposited funds against counterparty risk. 

The new deposit method makes it even simpler for EEA-based users to switch from fiat to gold and silver as their primary currency. 

[Peter]

 

Q3-Q4 2023 – Quarterly Update

Kinesis Pay merchant QR codes

Following the launch of Kinesis Pay, which allows online merchants to accept payments in gold (KAU) and silver (KAG), our team has been diligently working on advancing the next phase of this project: introducing Kinesis Pay to shops and businesses near you.

The release of new printable, reusable Kinesis Pay QR codes makes it simpler for business and shop owners to accept Kinesis gold and silver payments at their physical locations. The Kinesis Pay QR codes can be downloaded from the merchant dashboard and displayed on any shop counter. Enabling Kinesis users to scan the QR code and pay with their Kinesis gold and silver. The new feature is expanding the real-world utility of precious metals and the visibility of gold and silver as another payment option aside from fiat.

[Peter]

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Edited Friday at 03:49 PM by Peter

[MrD]

@Peter do you have a ref link for kinesis money? I would like to signup!

[Peter]

On 3/20/2024 at 12:21 AM, MrD said:

@Peter do you have a ref link for kinesis money? I would like to signup!

Of course! It's in my signature 😀

There are no downsides using my affiliate link. If you want to know how my compensation works, feel free to ask

[Peter]

I'm still wondering how to contribute the best to this forum. I think it hasn't attracted yet the interest it deserves.

 

[MrD]

1 minute ago, Peter said:

I'm still wondering how to contribute the best to this forum. I think it hasn't attracted yet the interest it deserves.

 

This will change soon as I plan to attract more users. I hope things will work as intended. Besides some acquisitions, I also plan to clean up the CRYPTO big forum and create separate forums for Trading, Forex, etc.

[Peter]

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Edited Friday at 03:49 PM by Peter

[Peter]

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[Peter]

Looking ahead to Q1 2024

Multi-account feature   

"Expanding the range of services available on the Kinesis platform, the introduction of the Multi-account feature is designed to enable Kinesis account holders to effortlessly manage multiple Business accounts within a single primary profile.

Among many others, merchants can integrate the Kinesis Pay plugin into each of their business accounts independently and start accepting gold and silver payments at their online and physical stores."

[Peter]

Looking ahead to Q1 2024

CoinTracking integration with Kinesis

Our upcoming integration with CoinTracking, a leading crypto portfolio tracker and tax calculator platform, represents a significant advancement in facilitating tax reporting for Kinesis users.

We are in the process of establishing a long-term partnership and integration with the platform to bring Kinesis users a significant upgrade to tax reporting on the platform. 

This phase of integration will offer tailored tax reports and streamline export/import capabilities for both the Kinesis platform users and the Kinesis Pro Exchange, catering specifically to seasoned traders. Incorporating the tax reporting tool directly into the Kinesis platform is positioned to deliver optimum clarity and simplify everyday saving and spending activities in physical gold, silver and digital assets. The manual CSV reporting function will remain on the Kinesis platform, accessible to all users.

 

Edited Friday at 03:58 PM by Peter