Kinesis is pleased to announce that we have passed the Q1 2024 independent precious metals audit, conducted by the leading global audit and inspection specialist, Inspectorate International.
The independent audit provides community members with verification that all Kinesis gold (KAU) and silver (KAG) within the Kinesis Monetary System are backed by a 1:1 allocation of physical gold and silver bullion.
The Q1 2024 audit is available to view on our website here.
Q1 2024 Quarterly Audit
On the 12th of January 2024, Kinesis’ strategic partner, Allocated Bullion Exchange (ABX), produced an inventory report of all physical gold and silver attributed to Kinesis Cayman.
The report was presented to Inspectorate International to conduct an independent audit, undertaken across ABX’s global vaulting network between the 16th and 19th of January 2024.
At the time the inventory reports were generated, Kinesis gold (KAU) and silver (KAG) in circulation were as follows:
KAU: 1,324,238.381 (as of ledger number 29774013, Fri, 12 Jan 2024)
KAG: 3,559,283.245 (as of ledger number 29821297, Fri, 12 Jan 2024)
All KAU and KAG circulation figures are publicly available and verifiable on the Kinesis blockchain explorer here. The Kinesis blockchain maintains an immutable and irrefutable ledger of all KAU (gold) and KAG (silver) within the system.
The independent audit confirmed the following metal quantities held by Kinesis Cayman as of Friday, 12th January 2024.
Gold (9999 fine equivalent): 1,326,238.381g
Silver (999 fine equivalent): 3,564,275.716ozt
Inspectorate International’s independent report confirmed that Kinesis’ precious metals holdings were as stated, with Kinesis passing all criteria of the inspection.
It should be noted that Kinesis carries an additional 2 x 1kg 9999 gold bars and 5 x ~1000ozt 999 silver bars as reserve, which is reflected in the total metal holdings.
The completion of Kinesis’ Q1 2024 audit provides the community with absolute reassurance that their gold and silver holdings are in safe hands.
Kinesis will continue to deliver the quarterly audit structure throughout the year, upholding the highest standard of security and transparency for the community.
