Kinesis is pleased to announce that we have passed the latest independent precious metals audit, conducted by the leading global audit and inspection specialist, Inspectorate International.<\/p>\n\n\n\n
The independent audit provides Kinesis users with verification that all Kinesis gold (KAU<\/a>) and silver (KAG<\/a>) within the Kinesis Monetary System are backed by a 1:1 allocation of physical gold and silver bullion. <\/p>\n\n\n\n On the 18th of October 2024, Kinesis\u2019 strategic partner, Allocated Bullion Exchange (ABX<\/a>), produced an inventory report of all physical gold and silver attributed to Kinesis Cayman. <\/p>\n\n\n\n The report was presented to Inspectorate International to conduct an independent audit, undertaken across ABX\u2019s global vaulting network, undertaken between the 21st and 31st of October 2024.<\/p>\n\n\n\n At the time the inventory reports were generated, Kinesis gold (KAU) and silver (KAG) in circulation were as follows:<\/p>\n\n\n\n KAU: 1,398,882.813 (as of ledger number 34298013, Fri, 18 Oct 2024)<\/strong><\/p>\n\n\n\n KAG: 3,787,291.584 (as of ledger number 34327815, Fri, 18 Oct 2024)<\/strong><\/p>\n\n\n\n All KAU and KAG circulation figures are publicly available and verifiable on the Kinesis blockchain explorer here<\/a>. The Kinesis blockchain<\/a> maintains an immutable and irrefutable ledger of all KAU (gold) and KAG (silver) within the system. <\/p>\n\n\n\n The independent audit confirmed the following metal quantities held by Kinesis Cayman as of October 18th 2024.<\/p>\n\n\n\n Gold (9999 fine equivalent): 1,400,882.813g<\/strong><\/p>\n\n\n\n Silver (999 fine equivalent): 3,792,284.055ozt<\/strong><\/p>\n\n\n\n Inspectorate International\u2019s independent report confirmed that Kinesis\u2019 precious metals holdings were as stated, with Kinesis passing all criteria of the inspection.<\/p>\n\n\n\n It should be noted that Kinesis carries an additional 2 x 1kg 9999 gold bars and 5 x ~1000ozt 999 silver bars as reserve, which is reflected in the total metal holdings.<\/p>\n\n\n\n Throughout the past year, Kinesis\u2019 trial of the quarterly audit schedule has reinforced the integrity of the process and results of the independent audits. As such, our return to a biannual independent audit schedule will retain these same meticulous processes, ensuring full transparency for Kinesis users. We have decided these core resources are better focused on driving forward the Kinesis Monetary System and championing the sound money movement. We will continue to provide our users with the imperative assurance of biannual independent audits.<\/p>\n\n\n\n The completion of Kinesis\u2019 latest independent audit provides Kinesis users with absolute reassurance that their gold and silver holdings are in safe hands. Kinesis will now continue to deliver audits biannually, providing Kinesis users with the security and transparency only independent audits can offer. <\/p>\n\n\n\nIndependent audit<\/strong><\/h2>\n\n\n\n
Biannual audits <\/strong><\/h2>\n\n\n\n
Due to persistent delays of third parties and the organisational burden of coordinating globally with said third parties, our trial of the quarterly audit schedule has demanded unsustainable time and resources from key Kinesis team members, at all levels of the organisation. <\/p>\n\n\n\n