Q3 Update - Historic Milestone for Precious Metals Industry

In our most recent update, CEO and founder of Kinesis Money, Thomas Coughlin, would like to share the historic milestones of the Kinesis Monetary System in Q3 and provide a glimpse into the final quarter of the year.

Holder’s Yield Launched and US $2.84M Payments distributed

Just over a week ago, Kinesis paid the highly-anticipated Holder’s Yield – a monumental advancement for the Kinesis Monetary System and the precious metals industry as a whole. 

On the 6th of October, all users that were holding their gold and silver with Kinesis, received a passive yield, with the first retroactive payout valued at $2.84 million dollars. A total of 46.2 kilograms of gold and 6,047 ounces of silver were distributed back to all eligible holders of the Kinesis Monetary System, rewarding them for simply storing their precious metals with Kinesis, free of charge.

With the launch of the Holder’s yield, Kinesis has brought to life its ambitious promise, proving the system’s ability to deliver on such a bold concept. Through a unique, usage-based model, Kinesis has paid a debt-free passive yield on physical gold and silver for the first time in economic history. 

As Kinesis continues to build its reputation in the precious metals space, we expect a significant influx of new investors into the system, who may have previously been holding their metals with less advantageous providers. 

An official statement around percentages and detailed figures will be released in a press release separately in the coming weeks.

Send digital assets via email

This quarter, Kinesis users saw the launch of the new ‘send-to-email’ payment functionality, streamlining the process of sending all digital assets available on the Kinesis platform, including KAU, KAG and KVT, at the tap of a button.

This feature opened up the avenue for existing system participants to invite new, prospective users onto the platform, with only the email address of the recipient required. Kinesis users can now pay for services in gold and silver via desktop and mobile, effectively transforming the way precious metals and crypto feed into daily transactional life. 

In advance of the upcoming Referrer’s yield roll-out, the ‘send-to-email’ feature has ensured that every time a sender completes an accepted transfer to a recipient, they will automatically qualify to receive the Referrer’s yield for that referee.

Segregated facility 

With the launch of the new Kinesis segregated storage facility, Kinesis expanded the existing Exchange Physical for Digital (EPD) program and introduced a new mechanism for users to bring their eligible* coins and bars into secure Kinesis’ vaulting facilities. 

This update has meant that investors worldwide can now convert the fine weight of their holdings into Kinesis gold (KAU) and silver (KAG), and thereby access all the benefits of the Kinesis Monetary System while maintaining their collection.

Find out more about our segregated facility – here.

PosGO Indonesia

After the months-long spikes of Covid-related issues that caused country-wide lockdowns, 100% work from home mandates and the banning of any public events, the situation has finally abated to the extent that by mid-September the country had begun to gradually open back up and ease into a state of relative normalcy. 

Currently, there are still capacity limitations on both private and public gatherings and events. However, we remain hopeful the country will continue to open up again fully within the near term.

In turn, we anticipate that both PT POS and the Indonesian government’s goal and plan to launch PosGO Syariah to the widest possible audience will happen shortly.

As previously, both the global Kinesis team and Indonesian Kinesis tech & business development teams have continued to work and add value to the PosGO Syariah offering. 

During this time, the Kinesis teams were: 

• integrating on/off ramps and embedded bank accounts from three additional banks – UOB Bank, Artha Graha Bank, Sinar Mas Bank  – which now includes six leading local banks in total; 
• automating several back office and reporting modules with the national exchange groups (ICDX and JFX), as well as with the regulator (Bappebti); 
• methodically formulating integration and business development agreement with the Indonesia Migrant Worker Protection Agency (the government agency representing over 5 million migrant workers overseas) successfully enhancing the KAU overseas remittances offering.

Kinesis will update the community once there is a firmer timeline for a country-wide launch of PosGO Syariah across Indonesia. However, in its current state, PosGo, which is one of the largest public-private partnerships in economic history – firmly directs Kinesis in a straight line toward the long term and sustainable success for the company, the community, and all stakeholders. 

As a reminder, PosGO Syariah is directly integrated with Kinesis KAU. As such, every transaction in KAU on PosGO Syariah results in transaction fees that go into the Kinesis Master Fee Pool.

Business Operations Team

The Business Operations team continues to strategically grow, with global talent joining Kinesis across Sales, Compliance, Delivery, Customer Service and Global Administration. Additional roles will be filled in the coming quarter to realise enhancements, most notably with regard to fiat deposit/withdrawal and compliance review efficiencies.

Business Development appointments and strategy will also be a focal point in the quarter ahead. Scalability remains a core component of the Business Operations recruitment drive, and a structure is now in place which is designed to grow seamlessly as our diverse user base does. 

In addition to the strengthening of the Operations team dynamics, Kinesis continues to explore relationships with exciting service providers across the world as we strive to provide enhanced fiat on and off ramps and expand our bullion deposit and redemption facilities for the Kinesis community. 

Expect announcements surrounding exciting strategic partnerships to soon be released.

Kinesis Monetary system expansion and upgrades

Additional crypto trading pairs

As we continue to expand the range of cryptocurrencies available on the Kinesis Exchange, the addition of Dash (Digital Cash) and Bitcoin Cash (BCH) further enriches Kinesis users’ selection of the most in-demand coins, globally.

Next in the line-up are Ripple (XRP) and Cardano (ADA) where work is currently underway in line with our development roadmap.

Every additional cryptocurrency brought onto the platform benefits from the technology and utility of Kinesis, such as the ‘send-to-email’ payment feature.

Mobile-friendly web and Sign in with Google 

We are constantly monitoring the performance of our websites and how the community is interacting with our platform. In line with global trends, we have recently upgraded our Kinesis Monetary System (KMS) web platform to be very mobile-friendly, providing you full KMS functionality on the go and allowing it to be used on more browsers and different form factors than ever before. From mobiles and tablets to smart televisions and other modern devices with inbuilt browsers, these features complement our mobile app available in the Apple and Google stores.   

In the next quarter, we will release a new feature that will allow you to sign in to our web platform using the one-click “Sign in with Google” for those that have a Google account. This will make it faster and easier to access your account than ever before.

Security in our platform is very important to us, as an extra level of protection, users will still need to enter your multi-factor authentication code (MFA) to access, trade or transfer funds from your account. 

Looking ahead to Q4

Yield Engine Upgrade – The Kinesis Velocity Yield

In response to feedback from the community, we have decided to improve the yield engine by replacing the Depositor’s yield with the Velocity Yield, which rewards users every time they trade on the Kinesis Exchange or spend on the Kinesis Debit Card.

With the introduction of the Velocity yield, we are embracing a new element to the Kinesis yield engine, designed to supercharge the transactional velocity of Kinesis gold and silver currencies, and reflecting their intended use as utilities with fundamental spending power. 

The Velocity Yield fee allocation is being increased from 5% to a newly set 10% on 1 November 2021, providing an increased incentive to utilise the Kinesis System. 

As with all Kinesis yields, the first payout of the Velocity yield will be retroactive, meaning that it will be retrospectively applied to all Kinesis participants’ previous trading and spending activity.

We will announce more on this yield engine upgrade when approaching its release. 

Referrer’s Yield

Later this year, Kinesis is set to launch the Referrer’s yield, as the third yield of five to be released under the Kinesis Monetary system. Following the release of our latest ‘send-to-email’ feature, the Referrer’s yield is set to trigger a mass onboarding of new users to the platform. 

Through referring new system participants – friends, family, and business associates – the existing user automatically becomes eligible to receive a 7.5% share of every single one of their referee’s Kinesis transaction fees. 

Alongside the forthcoming release of the Referrer’s yield, the Referrer’s interactive dashboard will enable Kinesis user participants to view those they have successfully onboarded to the platform and track their yield revenue generated from each referee. 

The galactic-themed dashboard will introduce gamification concepts that reward referrers with bonuses and gifts, whilst tracking progress and celebrating milestones.

The Kinesis Physical Mint 

Kinesis is excited to introduce the Kinesis Bullion store, where investors will be able to add Kinesis gold and silver bullion to their coin and bar collections, produced at the new Kinesis Physical Mint facility.

The Kinesis Physical Mint is now set up for large-scale production of investment-grade Kinesis coins and bars. Through controlling each stage of the production process from end-to-end, Kinesis ensures that all bullion is of the highest quality with our initial range being of minimum metal fineness of 9999 gold and 9999 silver.

Each coin and bar has been designed and pressed entirely in-house, featuring bespoke designs conceptualised by our in-house artists. Kinesis users will be able to choose from our debut coin and bar series, finessed with the artistic motifs of the Egyptian and Greek Goddesses, Ma’at and Themis, to represent the intrinsic values of the Kinesis ecosystem. 

We look forward to sharing our coin and bar designs with Kinesis users and the wider precious metals community, closer to launch.

Debit cards 

We will soon be announcing an exciting collaborative global partnership in the debit card, banking and digital asset lending space. The services from this partnership have been scheduled for a phased roll-out starting this quarter and they will be globally inclusive. 

Our UK and Europe debit card program partner integration was completed during Q3 in accordance with the roadmap, however, awaits final regulatory approval which we all await with great anticipation. We will be ready for an immediate launch once we cross this final hurdle.

Extensive regulatory and compliance work has been conducted on the debit card and banking side to ensure that a smooth rollout with premier providers is handled properly for both longevity and stability. Our combined service offering will be of extreme value to customers and will be strongly commercialised in targeted regions.

Stay tuned for upcoming announcements in this space.

Regional Partnerships

Our regional partnership teams have been busy signing and building out an aggressive integration pipeline of foundational and commercial anchor partnerships across the world. There has been a significant emphasis on selecting strong partners to be part of the Kinesis global growth story far into the future. 

In Q4 we will begin announcing and launching a number of these partnerships in the strategically correct order, along with building out a global business development team to specialise in certain markets we wish to significantly infiltrate. Watching the momentum build with partnerships will be exciting, particularly once our partner API suite is complete also during this quarter.

Onboarding

Kinesis Money is currently working to update the process by which users deposit funds to their Kinesis account and Wallet. In a continued effort to enhance the speed and efficiency of depositing funds into a Kinesis account, our company looks to introduce enhanced on-ramping functionality.

Legal

Kinesis will continue to expand its global corporate footprint and will as a matter of course, seek appropriate licensing in jurisdictions. As regulators across the globe continue to draft legislation surrounding digital assets and digital asset exchanges, Kinesis recognises the importance of working with regulators and operating within the appropriate regulatory framework to ensure the continuity of the Kinesis Monetary System. We will keep the Kinesis community informed as we further build our operating structure.

Recruiting and hiring

The Kinesis team continues to expand with significant time and resources spent securing the best talent possible around the world. Each member of the Kinesis team has been hand-picked due to their exceptional skills.

We have recruited heavily across multiple departments over the last quarter with new additions to our Business Operations, Marketing, Finance and Technology teams. The creation of new roles has allowed us to significantly increase productivity and output across all departments with Kinesis now employing over 100 people worldwide.

If you are an exceptional individual with a passion for Fintech be sure to check out our social media channels or reach out to [email protected] for more details.

Conclusion

As Kinesis looks to Q4, we would like to acknowledge the monumental progress and achievements that have been realised in recent months. With the payout of the Holder’s yield, Kinesis delivered on yet another industry-shifting yield – the first in economic history to reward holders for simply storing their gold and silver. 

As the most accessible of the five yields and as a matter of design, the Holder’s yield is the epitome of the Kinesis objective: to bring about a monetary system where everyone can access the enduring benefits of owning gold and silver.