Q3-Q4 - Quarterly Update

Our latest update from Kinesis CEO and founder, Thomas Coughlin, reviews the milestones achieved in Q3 and provides an insight into what lies in store for the rest of Q4 2022.

Q3 snapshot

Virtual card official launch

In what was an important milestone for Kinesis, this quarter’s launch of the Kinesis virtual card closed the loop on our end-to-end monetary system. The card provides the Kinesis community with the ability to purchase everyday items with Kinesis gold (KAU) and silver (KAG), as well as cryptocurrency.

Now, users in more than 60 countries across the UK, Europe, Canada, Oceania and Latin America can use the Kinesis Virtual Card to instantly spend their gold, silver and crypto holdings, with instant fiat conversation. 

The Kinesis Virtual Card promises to be a significant driver for the global adoption of Kinesis. As more and more people across the globe transition to using gold and silver as money, and the transactional velocity of the system gathers further momentum, every single participant will benefit from the growth of Kinesis together.

Already the most globally available card program in the precious metals and crypto card space, we will continue to expand the reach of our card program around the world, with details of a US launch to follow.

Kinesis Cashback

This quarter, the Kinesis Cashback feature launched on the platform, the ‘Cashback’ feature enables US users to earn 3% – instantly paid in physical gold and silver – on purchases made in precious metals at retailers across the United States. 

Available both in-store and online, users create a voucher for the purchase total in gold and silver, and redeem the voucher at checkout. Participants in the Cashback program earn precious metals every time they purchase with Kinesis vouchers at over 200 leading US retailers, including Adidas, Burger King, Uber, Applebee’s, Lowe’s and Subway. 

The Cashback feature offers our American clients instant, substantial savings on everyday purchases, with the added benefit of transacting and earning precious metals.

USD Coin (USDC) and Xinfin (XDC) on Kinesis Exchange

In line with our commitment to continue diversifying our crypto offering, Q3 saw USD Coin (USDC) and XDC (Xinfin) listed on the Kinesis Exchange. The latest additions bring the range of pairs on the platform to over 100, across KAU, KAG, crypto and fiat. Additionally, both digital assets are now spendable on the Kinesis Virtual Card.

JFXGOLD X launch

In Q3, Kinesis was proud to see the launch of JFXGOLD X, in partnership with Indonesia’s national commodity and futures exchange, the Jakarta Futures Exchange (JFX). Interfaced with both Kinesis and ABX, the integration provided spot physical gold contracts on JFX for the first time in the government-backed exchange’s almost 25-year history. 

The launch marked the nationwide availability of the first of Kinesis’ white-labelled physical gold products in Indonesia, with its proven regulation paving the way for many more. Serving as further proof of the system’s utility, Kinesis provides another real-world use-case demonstrating the nationwide provision of financial services in the stable asset of gold.  

The integration represents an important development for Kinesis’ public-private partnerships in the region of Indonesia, forging a clear and actionable path for other governments of the world to follow.

Looking Ahead to Q4 and beyond

US Card Program

With the Kinesis Virtual Card live, we will continue to sequentially roll out the Kinesis card program globally, with a highly-competitive, US-specific card program next in line.

Built for the needs of North American users, the US card program will enable instant point-of-sale transactions of gold, silver and cryptocurrency.

We look forward to providing our substantial US user base with the ability to spend gold and silver.

Stay tuned for upcoming announcements on the US card.

EU Card Program

The European physical card program is also happening in the background in Q4, while we are getting the US program live. The cards and payments team will be moving into development right after the US program launches, with a planned release early 2023.

We will provide further details of the physical EU program in the next update.

POSPAY Gold Launch and Indonesia expansion

Following the launch of JFXGOLD X, Kinesis is now gearing up for the full launch of POSPAY GOLD in Q4 2022, the gold-based financial app in partnership with the Indonesian state-run national postal service, PT POS.

View the website here: https://pospaygold.id/

The launch of POSPAY GOLD will see the app rolled out in phases to the entire population of Indonesia, commencing with the one million existing accounts of PT POS’ POSPAY App.

The first phase will enable the Indonesian public to benefit from the gold savings and trading offering of the Kinesis platform. POSPAY GOLD will introduce a multitude of products for Indonesia, including gold savings, gold trading, and the ‘Gold to Mecca’ feature – a shariah-compliant gold savings solution built for Islamic faith members saving for the Hajj pilgrimage. 

The expansion will enable the Indonesian Government to deliver access to gold-based financial services for its 92 million unbanked and 47 million underbanked citizens. In addition, Kinesis will continue to fulfil our mission statement of providing a fairer, honest and more sustainable system for the wider global community.

In addition, MetalGO is the third Kinesis-powered mobile app to be released, together with our Indonesian technology and commercial partner, Bullion Ecosystem International (BEI). 

While MetalGO is a standalone mobile app, it is also the version that will be white-labelled and offered by the fourth Kinesis-powered app for NU. In fact, JFXGOLD X, POSPAY GOLD and NUGOLD are all built on Kinesis technology and integrated through BEI. 

MetalGO is live as of the 21st October. See the MetalGo website for the mobile application functionality, including “Gold to Mecca” and MetalPay using KAU. MetalPay is integrated and supported by five large Indonesian banks: BCA, CIMB Niaga, Permata Bank, BNI and Mandiri Bank. 

Q4 2022 into Q1 2023 is set to be a very exciting period for Kinesis in Indonesia.

Kinesis Pro

The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is now in the advanced stages ahead of a prospective Q4 launch.

The exchange will bring a professional cryptocurrency trading experience to Kinesis users and feature high liquidity trading pairs, innovative trading tools and best-in-class security. All digital assets on Kinesis Pro will be custodied with a leading institutional provider, delivering exhaustive security and enterprise-grade insurance, both in storage and transfer. 

Kinesis Pro forms an imperative part of Kinesis’ growth strategy, offering dedicated cryptocurrency traders a tailored platform for trading and investing in a wide range of cryptocurrencies and digital assets. Beyond that, Kinesis Pro will make up an entirely new section of the Kinesis website, complete with regular cryptocurrency news coverage and market updates, as well as bespoke educational Academy content. 

Stay tuned for the official launch of Kinesis Pro later this year.

Kinesis Pay

Kinesis Pay is set to launch in Q4 as a new payment feature providing both online and physical merchants everywhere the opportunity to accept payments in gold, silver and cryptocurrencies. The Kinesis Pay payment feature gives everyone the ability to send and receive funds, regardless of the size of their business. Merchants will be able to start accepting Kinesis gold (KAU) and silver (KAG) upon the guided installation of a simple plug-in for online merchants and utilisation of the Kinesis application for physical merchants.

When integrated with a merchant’s online store, the feature will give online customers the option of easily paying with gold and silver. The feature will also give businesses the opportunity to diversify their company holdings with precious metals, as an inflation-resilient alternative to fiat currencies, while making them eligible to receive a passive yield on all capital received as gold and silver.

Importantly and what we’re all very excited about, is that it provides the ability for our activist community of Kinesis Referrers to get mobilised in their local communities to sign-up not only individuals but also businesses under the Kinesis referral program. This will mean that a single individual Kinesis Referrer has the power to build a Local Kinesis Economy in their locality and receive all the referral benefits of doing so. 

Available for both Individual and Business account holders, Kinesis Pay will enable businesses of all sizes to integrate with the Kinesis Monetary System.

GBP and EUR Banking

Currently, we are in the final stages of opening the Kinesis EUR and GBP banking facilities based out of Europe. This comes off the back of our recently approved Lithuanian entity, which is an approved cryptocurrency exchange. 

This will mean SEPA deposits and withdrawals for European customers and Faster payments via an account number and sort code within the UK.

These new deposit and withdrawal facilities are a long time coming and will be welcomed by our European and United Kingdom customers for faster, cheaper on-ramping into the Kinesis system.

These new services will be added this quarter so keep a look out for the announcement soon.

Global Deposit Enhancements

Kinesis is working closely with open banking and local payment providers across the globe to bring efficient and easy ways to deposit funds for our global community.

We are aware of the need to have localised deposit methods and that each country has unique infrastructure to transfer funds. Over the next quarter, we will be integrating with various banking facilities to achieve an improved fiat deposit facility for the Kinesis community. 

As we move further into the future, we will aim to continually roll out improved funding methods across strategic locations.

External Exchange Listings

Kinesis has been working hard behind the scenes with a number of top-tier exchange providers to list KAU and KAG on external exchanges. We currently have four exchange listings underway and over the coming quarter, we expect to bring several of these projects to fruition. 

In collaboration with our exchange partners, there will be significant marketing drive around each exchange listing, further amplifying awareness of KAU and KAG in the wider crypto community. The timing of the external listings has been synchronised to maximise industry exposure around the upcoming launch of our pro-crypto trading platform, Kinesis Pro.

Team Expansion

Kinesis continues to grow and attract talent from across the globe with our team of 200+ people based in more than 15 countries. We are truly a global company, and we will be expanding our physical presence in the months ahead as we continue to certify our presence as an international, borderless company.

In the fourth quarter of the year, several teams throughout the business will welcome new and valuable members. As Kinesis continues to expand and diversify its product suite, further specialised teams dedicated to its service will be brought on to ensure the highest level of delivery and operations.

Kinesis Bullion Store

In early Q4 the Kinesis Bullion store is set to launch, retailing our minted physical coins and bars, independently produced at the Kinesis Mint.  

The store gives community members the chance to purchase Kinesis signature bullion, a timeless addition to any physical metals collection. With tonnes of wholesale orders already placed, the Kinesis Bullion store will further enhance the visibility of the Kinesis brand within the precious metals space.

Everything is now in line for a US launch, and users will soon be able to purchase bespoke bullion designs from the store, accepting payments in Kinesis gold and silver.

The initial US launch will be silver bullion products only, with more products to follow.

Kinesis Physical Mint

In November, the Kinesis Physical Mint will transition to a new facility to scale up capacity for the current and future demand. The new minting facility will allow for increased production to keep up with the industry-wide interest in Kinesis’ signature bullion collection, through the Kinesis Bullion store and wholesale channels.

In addition to the new Mint facility, Kinesis has commissioned a new 56,000 sq. ft. refinery granting Kinesis wholesale minting and production capabilities on a global scale, as well as a new vault within the minting facility.

Payments (multi-pay) phase 2

Following the release of the multi-send payments feature in September this year, enabling users to send multiple gold and silver payments at once, Kinesis will continue to expand the payments functionality on the platform. 

With the release of the ‘Payment’ tab being just the first step in the vast range of personal and business payment features still to come, we will be introducing several new features, such as scheduled payments, multi-lists, and CSV imports.

The new developments will provide scope for enhanced management of gold and silver payments via the platform, as well as automating recurring or one-time payments to any specified group of people within or outside the Kinesis Monetary System.

Further additions to the payments tab will enhance the platform’s monetary infrastructure for the benefit of small and large-scale business entities, allowing them to fully utilise the system’s offering while securing their capital in physical precious metals. 

Kinesis Community Forum

The Kinesis community forum is an initiative with key members from the Telegram community that you all have come to know and love.

Familiar members such as CT Harvey, Saha and, of course, Uchiki, will be among those acting as administrators to ensure that issues, discussions and support are all correctly logged in a place that will serve the community as a great knowledge base.

We are establishing this forum as a richer interface for our community. One that can start to evolve into multi-lingual channels and will ensure that your voice is heard, with recorded feedback visible within the topics.

It will provide for easier-to-follow discussions, votable suggestions and offer user-level «How-To» links.

Wider language accessibility will come from an auto-translate widget and we’ll be able to add native language sections as they are justified.

We encourage all users to view and register for the forum here: https://forum.kinesis.money/

Website Upgrade

In the next quarter, the Kinesis website will undergo a complete upgrade with new content and UX implemented across all key web pages.

The website upgrade comes as part of our team’s ongoing commitment to increase the accessibility of the Kinesis product suite, while ensuring the primary access point to Kinesis is evolving in-step with industry standards. 

In Summary 

While never losing sight of the mission ahead, it is important to take stock of our achievements this quarter. At this very moment, the Kinesis Virtual Card is available to over 1 billion people across 61 countries. 

With the Kinesis Virtual Card release behind us, Kinesis will continue to drive forward the global utility of precious metals, hand-in-hand with cryptocurrency. The virtual and physical US card program is set to offer another continent of people the choice to leave traditional currency, and all its flaws, behind. 

Kinesis will push forward and continue to attain the highest standards of quality and delivery across all of our customer-focused products and integrations; while always prioritising the core focus of our mission: providing the people of the world with a fair, honest and rewarding monetary system.

As ever, we thank the Kinesis community for its continued support and participation, and we look forward to sharing our progress with you, as we continue into this final, crucial quarter of 2022. 

Best regards,

Thomas Coughlin