Posted 22nd August 2023

Kinesis passes Q3 audit 2023

kinesis passes q3 2023 independent audit

Kinesis is pleased to announce that we have passed the Q3 2023 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 Q3 2023 audit is now available for the Kinesis community to view on the website here

Q3 2023 Quarterly Audit

On the 19th of July 2023, 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, on the 19th and 20th of July 2023.

On the 19th of July 2023, at the time the inventory reports were generated, Kinesis gold (KAU) and silver (KAG) in circulation were as follows:

KAU: 1,272,991.795 (as of ledger number 26939516, Wed, 19 Jul 2023)

KAG: 3,365,107.175 (as of ledger number 26968006, Wed, 19 Jul 2023)

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 Wednesday, 19th July 2023.

Gold (9999 fine equivalent): 1,274,991.795g

Silver (999 fine equivalent): 3,370,099.646ozt

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 successful completion of Kinesis’ Q3 2023 audit demonstrates our unwavering commitment to security and transparency, providing the community with complete assurance that their gold and silver holdings are in safe hands.

See the latest audit report here