Silicon Capital partners with Kinesis to enable Gold and Silver transactions in Africa
July 31st 2020: Silicon Capital Global, a payment Fintech company based in South Africa, has started collaborative development with Kinesis Money, a monetary system based on allocated digital gold and silver.
Silicon Capital is integrating Kinesis digital gold and silver into the SiliconEnterprise TM mobile wallet and core banking engine to provide Africa with a stable and competitive mobile payment network. Enabling individuals and businesses to transact using KAU (Kinesis gold) and KAG (Kinesis silver) all within SiliconEnterpriseTM multi-tenant Wallet-As-A-Service cloud.
The two companies are working together to deliver a cost-effective, super-fast, price-stable payment service to Africa’s community and business landscape. Through a payment solution promoting an inclusive and accessible social banking environment, aimed at transforming the way citizens of Africa manage their personal finances.
Silicon Capital is the payment innovation company within the Capital Software Group, a fifty-two year old payment processor providing core services including EFT, TT1 Debi Check authentication and collections using Express API, Payroll processing and debit card processing to a large number of corporates in South Africa and globally.
Kinesis, now leading the digital gold and silver space globally, are providing open access to the KAU (Kinesis Gold) and KAG (Kinesis Silver) suite through a whitelabel integration with Silicon Capital. Kinesis is able to enhance payment solutions for many companies globally by layering digital currencies based on stable gold and silver. Providing cost-effective transaction fees, faster settlement and rewarding individuals and companies simply for spending and saving.
The enabling of price-stable gold and silver currencies that are interchangeable and connected to the Silicon Capital core banking infrastructure will not only enhance the experience of everyday banking and payments, but also offer users the ability to transact locally and globally in a universal currency.
CEO of Kinesis, Thomas Coughlin comments “Our collaborative partnership with Silicon Capital Global is testament to our commitment in delivering to Africa a solution for a trusted international monetary system which provides both individuals and businesses with a stable medium of exchange. Silicon Capital has established deep roots in the financial and technology sectors over the last fifty years, bringing robust infrastructure and expertise in payments and banking. Making this an ideal partnership with a reputable industry leader.”
“We are very excited to be working with Kinesis in Africa. With the integration of the digital allocated “physical” gold and silver, we aim to provide an innovative combined solution to create a differentiated payment network” – Brian Mather, CEO of Silicon Capital Global.
In enhancing banking, remittance and payment systems with Kinesis, both Kinesis and Silicon Capital are able to provide efficiency, simplicity and exceptional value, as well as additional revenue streams, to our core business, partners and that of our clients.