Q2-Q3 2023 – Quarterly Update

In our latest update from the Kinesis CEO and founder, Thomas Coughlin reviews the Kinesis milestones achieved in Q2 and provides a glimpse into the upcoming developments of Q3 2023.

Q2 Snapshot

KVT Yield Launch Pays Out Nearly $5m 

In a monumental milestone for Kinesis, the fifth and final yield within the innovative Kinesis Yield System launched on the 30th of April 2023. The first payout rewarded all Kinesis Velocity Token (KVT) holders with their proportional 20% share of all Kinesis’ global transaction fees. 

The initial yield payment saw $4.89 million worth of physical gold and silver shared with all eligible KVT holders. Following the yield launch, KVT holders will continue to receive their fixed share in the growth of the Kinesis system – paid in gold and silver, each month.

With the entire yield engine now live on the platform, Kinesis rewards those who choose an ethical, stable monetary alternative, offering users a substantial share in the long-term growth of the Kinesis Monetary System.

In line with the KVT Minting Offer, there are still approximately 1,700 KVTs that remain in the final tranche of tokens available as a reward for minting and introducing new KAU or KAG into circulation. 

A limited number of KVTs can also be purchased for a fixed price on the Kinesis platform.

New Quarterly Audit Schedule

In response to our community’s feedback, we introduced a more frequent, quarterly auditing schedule, further reinforcing our commitment to transparency and integrity. Going forward, Kinesis will continue to update the community with audits on a quarterly basis, in line with this new reporting structure.

Kinesis successfully passed the Q2 2023 independent audit, conducted by the renowned Inspectorate International. The audit confirmed 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.

Our Q2 2023 audit report is now more succinct, enabling users at all levels of industry experience to easily digest the findings. You can view the report here.

KAU and KAG Listed on Coinmarketcap and CoinGecko

At the beginning of Q2, Kinesis’ gold KAU and silver KAG assets were officially listed on Coinmarketcap and CoinGecko. 

As two of the largest cryptocurrency data aggregators in the world, this was a significant milestone for Kinesis and a major step towards enhancing the visibility and accessibility of Kinesis gold and silver-backed currency assets.

Find Kinesis gold (KAU) and Kinesis silver (KAG) on Coinmarketcap. 

Find Kinesis gold (KAU) and Kinesis silver (KAG) on CoinGecko.

The Kinesis Exchange is also listed on CoinGecko, therefore making total KAU and KAG volumes in line with true volumes. There is ongoing work happening currently to have the Kinesis Exchange properly listed on Coinmarketcap, which will fully realise the total volume on our KAU and KAG pairs there also.

The Kinesis Mint Website Launch 

This quarter, Kinesis launched the new Kinesis Mint website, a landing point for clients worldwide to access all the wholesale minting and design services on offer at our state-of-the-art mint and refinery.

The Kinesis Mint offers a vast range of finished and semi-finished products, including bullion blanks, rounds, and bars, as well as custom bullion and design services that meet and exceed international standards.

Since its opening in 2021, Kinesis Mint has built a sterling reputation of unparalleled artistry and quality, through manufacturing Kinesis’ signature bullion range for the Kinesis Bullion store.

The launch of the Kinesis Mint website and the availability of bullion services to wholesalers worldwide cement Kinesis’ position as a leader in the physical precious metals industry. As we continue to expand the team of professionals and the range of services offered in the coming year, the Kinesis Mint will encompass an ever wider audience in the physical metals space.

Looking ahead to Q3

Kinesis Card EU 

The new, physical Kinesis Card will soon be available across 30 European countries, enabling local citizens to use physical gold and silver as their everyday currency with greater value than ever before.

The Kinesis Card will be made available for pre-registration for verified EU-based Kinesis platform users. A limited number of early cardholders will be able to access a bonus that will soon be disclosed in our upcoming promotional campaigns.

Importantly, all cardholders will have the opportunity to safeguard their wealth and access seamless, low-cost precious metals spending providing a real-world, sound-money alternative to inflation-prone fiat currencies. 

Enhanced Europe Deposit Options Coming Online

Alongside the release of the EU Kinesis card, new banking options will introduce SEPA transfers, enabling cheaper and faster deposits for all European account holders.

The wider range of deposit options will give platform users the ability to deposit their salaries straight into their Kinesis accounts and convert their earnings into the stable value of gold and silver with each payday. Hand in hand with the Kinesis Card, new deposit options will make it simple and affordable for our European community members to start using gold and silver as their everyday currency.

Kinesis is making significant progress in expanding the range of fiat on-ramping options on the platform to better serve our community across all other key regions. We have been working to establish additional fiat deposit accounts with financial institutions across the US, Europe, the UK, LatAm, Asia and Africa, to provide a more accessible and convenient experience for Kinesis’ global userbase.

Kinesis Pro

The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is now in the advanced stages ahead of a prospective launch in early Q3. 

Featuring high liquidity trading pairs, innovative trading tools and best-in-class security, the exchange will bring a professional cryptocurrency trading experience to Kinesis users wanting to trade an expanded range of digital assets.

In addition, the brand new, dedicated Kinesis Pro website will feature frequent cryptocurrency news coverage, insightful blogs, and market updates alongside educational content for traders of all experience levels.

Multi-accounts 

Expanding the Kinesis Accounts offering, the multi-accounts feature will allow Kinesis Individual account holders to add and manage an unlimited number of Business accounts under a single primary profile. 

The introduction of multi-accounts will give platform users the ability to seamlessly switch between their multiple business profiles without the necessity to log out.

This feature opens up the potential for platform users to fully unlock the numerous benefits of the Kinesis Monetary System. By opening their business account with Kinesis, system participants will have access to a variety of functionalities, such as registering as a merchant with Kinesis Pay or sending bulk payments in gold and silver via the multi-send feature.

Kinesis Pay

After the release of the Kinesis Pay SDK, which provides clients with the ability to accept gold KAU and silver KAG payments at their online stores, the team have been hard at work building out the next phases.

We are in the final stages of developing Kinesis Pay merchant assets, including personalised QR codes that can be attached to tables and product displays, which will expand the options for merchants to accept gold and silver payments via the “scan and pay” functionality and receive instant in-app and platform notifications.

In addition, we are creating an easy-to-use, stand-alone app merchant application that will enable merchants to input the transaction amount (in gold, silver or local currency) and present a payee with a scannable QR code that facilitates payment with the Kinesis app.

We are also considering a new extension that will allow clients to add a ‘Pay with Kinesis’ block to their invoices, containing a QR code with all the payment details.

We are keen to get your feedback on the community board if you would find this useful.

Northstar & Badcharts Partnership 

Kinesis’ partnership with Northstar & Badcharts, a leading technical analysis and education service, driven by trading experts Patrick Karim & Kevin Wadsworth, is set to launch in the third quarter of 2023.

Northstar & Badcharts will offer their services at a heavily discounted price exclusively for Kinesis users, providing them with access to their combined thirty years of technical analysis experience. 

Offering expert advice and guidance on trading precious metals, the promotion will additionally give Kinesis subscribers exclusive access to the platform’s “ratio trading” tool.

The collaboration between Kinesis and Northstar & Badcharts is positioned to enhance the visibility of the Kinesis brand as well as the experience of traders seeking to further understand the technical trends influencing the digital asset and precious metal markets.

We will notify our users when the promotional initiative with Northstar & Badcharts goes live. Stay tuned for more updates coming soon.

Apple Pay 

The third quarter of the year will see the official launch of Apple Pay for the Kinesis Virtual Card, with marketing commencing in the third quarter of the year.

Apple Pay has a 507m strong network of global users already making everyday contactless transactions through the provider, in-store and online.

We will notify all our users once Apple Pay is officially released.

Indonesia Looking Forward

Q2 has seen, and Q3 will see, some incredibly exciting updates regarding Indonesia. 

The first is the official release of the “PT Kinesis Monetary Indonesia (KMI) Gold Depository Management Approval” by BAPPEBTI. The physical check process by BAPPEBTI, Indonesia’s Commodity Futures Trading Regulatory Agency, will ensure that the physical gold kept by Kinesis in the custodian warehouse is genuine, LBMA-accredited 999.9 gold.

The official release now opens the door for the public to carry out physical gold transactions digitally on the JFXGOLD X exchange trading platform, using the Pospay Gold feature in the Pospay Application or via the MetalGO Application safely and reliably. These platforms form a crucial part of our Indonesian growth, and we’re also laying the groundwork for smooth onboarding with upgraded KYC processes within Indonesia by working closely with an array of major banks in Indonesia, including Artha Graha International Bank.

Our platform in Indonesia is the first to facilitate the opening of bank accounts via an online application system, which can also tap into the national QR code payment system. This makes Kinesis the only non-bank monetary, trading and payment system in Indonesia with this level of banking integration. Additionally, as advisors on the gold trading legislation in Indonesia, our ecosystem is the only legal venue for transacting physical gold electronically in the country.

Following this launch, it’s anticipated that additional institutional members from JFX, NU and large financial institutions within Indonesia will be launching as well.

Partnerships

During Q3 we will be announcing and launching a number of exciting new partnerships which have opened entirely new commercialisation strategies for Kinesis.

Our regional representatives have been focused on steering a pipeline of partnerships from inception through to integration. These partnerships span the continents of the world and will be announced later this year. 

We also continue to push ahead with an expansion of other Public-Private Partnerships beyond Indonesia, with steady progress being made. We hope to be ready in Q3 to announce the next national project. 

In Summary

As we conclude this quarter, the symbiosis between the retail, business, and governmental sectors becomes increasingly crucial to ensure success across the board. In the face of an ever-evolving regulatory landscape, we persist in satisfying rigorous compliance requirements. By mobilising a wealth of resources, we fuel the consistent growth and ongoing expansion of the Kinesis Monetary System.

We are currently navigating a significant paradigm shift within the financial sector. Forthcoming developments are expected to reverberate across global central banks and even influence the Bank for International Settlements (BIS). Reports indicate a pivot towards physical gold, highlighting a broader movement in progress.

As global economic instability deepens, we find Kinesis poised at a strategic vantage point to make its debut on the international economic stage. We offer a robust and sustainable alternative to the shortcomings of the traditional fiat-based economic model. The ancient Greek concept of “Kairos” aptly encapsulates our present juncture: for Kinesis, the time is now.

We remain steadfast in our commitment to providing our community with an opportunity to opt out of a system beleaguered by the repercussions of inflation and unbounded debt. Our monetary system prioritises user protection at its very core.

The robust framework on which Kinesis is built is reaching a state of undeniable fruition. With the integration of a physical card and additional deposit options, we enhance the everyday utility of the Kinesis platform, shaping it into a comprehensive money-management tool adaptable to a diverse range of users.

Yet, this is merely the inception. We eagerly anticipate continued progress and express our deepest gratitude to our community for their unwavering support.

Best regards,

Thomas Coughlin