FAQ – Audits
Are Kinesis gold and silver holdings independently audited?
Yes, yes all gold and silver held by Kinesis undergo independent, third-party audits, twice a year.
We employ the world-class independent audit and inspection specialist, Inspectorate International, a Bureau Veritas company, to conduct regular, independent, physical audits of all gold and silver within the Kinesis vaults. Additionally, independent auditors perform a series of assessments to ensure the weight and fineness of the bullion is as stated, and the quality of the storage is satisfactory.
Where can I read Kinesis’ audit reports?
All independents audits of Kinesis gold and silver holdings are accessible at the top of the page.
Who conducts Kinesis audits?
Audits of all physical gold and silver underpinning Kinesis gold and silver-based digital currencies are conducted, twice a year, by Inspectorate International, a Bureau Veritas company and leading global physical commodity audit and inspection specialist.
How often are audits of the Kinesis gold and silver holdings conducted?
Inspectorate International conducts an independent audit of all physical gold and silver underpinning Kinesis gold and silver-based digital currencies, twice a year.
How does an audit work?
At a designated time and date, independent officers from Inspectorate International enter all of Kinesis’ global vaulting facilities and physically tally the quantity of gold and silver held. Shortly thereafter, the inspectors checked the total against the quantity reported by Kinesis’ parent company, ABX, in the inventory report on a prior date. Therefore, the quantity of gold and silver held in our vaults is checked against the record of all KAU and KAG in circulation, stored on our blockchain. See a live record of all Kinesis currencies in existence – here.
As well as recording the quantity, the auditors assess the quality and weight of a random selection of gold and silver bars. For this purpose, the inspectors carry out tests to assess the weight and fineness of the gold and silver. Additionally, the auditors assess whether or not the quality of the storage facility was satisfactory.
The results of the audit verify that every KAU and KAG within the Kinesis monetary system is based on an exact 1:1 allocated quantity of physical gold and silver.
Trust and security
Why should I trust Kinesis?
Kinesis was founded by Allocated Bullion Exchange (ABX), a leading institutional exchange with 10 years’ experience trading fully allocated precious metals globally. ABX is a public company with an outstanding reputation in the precious metals space.
Founded in 2011, ABX brings its extensive vaulting network and precious metals trading experience to the operation of Kinesis and the secure, transparent custody of all gold and silver bullion holdings.
Kinesis guarantees the highest-grade security of your precious metals, through world-renowned vaulting partners; Loomis Zurich, OZL Liechtenstein and Brinks.
Can I redeem my gold and silver?
All Kinesis gold and silver holdings are fully redeemable.
Kinesis and ABX understand the absolute necessity of physical redemption in gold and silver provision. As a matter of imperative assurance, Kinesis offers physical redemption on all precious metals behind your gold and silver-based digital currencies.
Kinesis currency holders are fully entitled to redeem the underlying bullion the Kinesis gold (KAU) & KAG (Kinesis silver) are based on, subject to withdrawal fees and minimum withdrawal requirements. The redemption cost and minimum withdrawal requirements of Kinesis are among the lowest in the industry.
Kinesis enables users to redeem as little as 100 grams of gold or 200 ounces of silver, with a fee of 0.45% + $100 USD + delivery costs.
We provide redemption of the underlying bullion through our logistic partners Loomis, Brinks and Malca-Amit.
Redemption is available from the Settings tab of your Kinesis Money account.
What are Kinesis gold (KAU) and Kinesis silver (KAG)?
Kinesis gold (KAU) and Kinesis silver (KAG) are a 1:1 digital representation of fully allocated physical gold and silver bullion.
Through combining precious metals with blockchain technology, KAU and KAG enable fully allocated gold and silver bullion to be instantly purchased, traded, spent and sent anywhere in the world.
For the full specifications of Kinesis gold and silver-based digital currencies, as well as the underlying bars, please visit our assets page – here.