11th July 2018
Kinesis Announces Liquidity Partnership with Finemetal Asia
Kinesis, the creator of bullion-based currencies traded on the blockchain, has announced a liquidity partnership with Finemetal Asia, a specialist distributor of physical precious metals.
Finemetal Asia will be providing liquidity for the soon to be launched Kinesis currencies, which are based on allocated physical gold (KAU) and silver (KAG) and traded on the Kinesis Blockchain Exchange (KBE).
Finemetal Asia, in cooperation with Argor Heraeus, is based in Hong Kong and covers multiple Asian physical bullion trading locations. Among its customers are some of the largest jewellery chains and gold dealers in the world.
The strategic partnership will boost the liquidity available for users of the Kinesis currencies and enhance relevant real-time price assurance.
Ryan Case, Head of Sales & Trading at Kinesis, comments:
‘It is great to see this support coming from the physical bullion industry. We’re setting out to deliver an evolution of the precious metal market and implement a practical and efficient method for physical bullion to be used as a medium of exchange. As we do so, support from key liquidity partners such as Finemetal Asia greatly increases our standing.’
Pádraig J Seif, CEO of Finemetal Asia Ltd, adds:
‘We are excited by the opportunity that Kinesis presents and are ready to participate as gold and silver trading evolve into the digital era. As one of the initial members of the Allocated Bullion Exchange (ABX), we have seen its potential to increase our presence and two-way liquidity across multiple trading hubs. Similarly, we see great potential to add to our physical bullion liquidity by providing liquidity for the gold- and silver-based digital Kinesis currencies.’
Kinesis was founded by Allocated Bullion Exchange (ABX). ABX already has the extensive infrastructure and fully operational technology for the trade and storage of physical bullion in 7 locations around the world.
About Finemetal Asia:
Finemetal Asia Ltd. is a specialist distributor exclusively of Argor Heraeus (Switzerland) produced physical precious metals. Based in Hong Kong, it primarily serves the Hong Kong market, but has recently expanded into Taiwan, Malaysia and Japan. Among its customers are some of the largest jewellery chains and gold re-sellers.