Kinesis is pleased to announce that we have passed the Q4 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 Q4 2023 audit is available to view on our website here.
Q4 2023 Quarterly Audit
On the 16th of October 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 17th, 18th and 19th of October 2023.
On the 16th of October 2023, at the time the inventory reports were generated, Kinesis gold (KAU) and silver (KAG) in circulation were as follows:
KAU: 1,293,465.201 (as of ledger number 28360037, Mon, 16 Oct 2023)
KAG: 3,500,611.079 (as of ledger number 28402993, Mon, 16 Oct 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 Monday, 16th October 2023.
Gold (9999 fine equivalent): 1,295,465.253g
Silver (999 fine equivalent): 3,505,603.549ozt
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’ Q4 2023 audit provides the community with absolute reassurance that their gold and silver holdings are in safe hands.
This year, Kinesis has delivered on the quarterly audit structure, with a commitment to upholding the highest standard of security and transparency for the Kinesis community. Going forward, Kinesis will continue to publish independent audits on a quarterly basis to provide unwavering proof of the 1:1 allocation of all the gold and silver in the Kinesis Monetary System.
