Kinesis announces the completion of its first independent audit of 2022.
The third independent audit and verification of the gold and silver bullion, underpinning all Kinesis gold and silver-backed currencies, has been completed.
As we’re still awaiting documentation from Inspectorate International, the full results will be available on our website once documents are supplied.
How exactly does the audit work?
Independent officers from Inspectorate International entered all Kinesis vaulting facilities across the world and physically tallied the quantity of gold and silver, comparing it against the quantity stated by Kinesis in an inventory report supplied to the auditor. The weight of the metals reported on is then compared to a snapshot of the Kinesis currencies in circulation, taken at the same time that the physical metals reports were generated.
How do I know my gold is safe?
- The physical bullion behind Kinesis gold and silver-backed currencies sits in independently audited and insured state-of-the-art vaulting facilities.
- The legal title to the physical gold and silver bullion, represented by Kinesis digital gold and silver-backed currencies, always remains with the holder.
- The independently-conducted third-party verification provides assurance to all current and future Kinesis system users.
Transparency and Trust
Kinesis understands the total transparency required for users to feel their precious metals are in safe hands. We place great value on preserving the trust of our users, which is why we are committed to ensuring that all our audits meet the highest standards of integrity, accuracy and verifiability.
Pandemic-related restrictions – which had rendered a global physical audit impossible – have now been eased. Resultantly, auditing specialists have been permitted access to all locations of Kinesis vaulting infrastructure, at the first available opportunity.
As an integral part of Kinesis’ vision, we will continue to deliver independently conducted, biannual audits to provide you with the transparency you deserve.
Once published, the full documentation will be made available here.