Q4 2023 – Q1 2024 – Quarterly Update

In our latest update from Kinesis CEO and founder, Thomas Coughlin reviews the milestones accomplished by Kinesis in the last quarter of 2023 and provides a glimpse into the beginning of 2024.

Q4 Snapshot

Low-cost SEPA deposits live for European users

In November, Kinesis introduced a new, low-cost SEPA deposit option to the platform. The option brings greater efficiency and value to all EEA-based Kinesis account holders, who can now deposit their Euro (EUR) funds with ease.

The addition of SEPA transfers enables European account holders to make EUR-to-EUR deposits as easily as with regular domestic bank transfers, with a fixed rate of €0.30 per transaction charged on the Kinesis side, regardless of the amount of funds sent.

Single Euro Payments Area (SEPA) transfers are widely recognised as one of the most time and cost-efficient ways to send and receive Euros within the EEA. Importantly, SEPA payments are operated through IBAN identification codes, designed to protect users’ account data.

The new local deposit option makes it easier for users to fund their Kinesis accounts and convert Euros into spendable precious metals.

Find out how to easily deposit EUR into the platform in our step-by-step guide here.

Q4 2023 quarterly audit

Kinesis successfully passed the Q4 independent precious metals audit, conducted by the leading global audit and inspection specialist, Inspectorate International.

The independent audit once again verified that all Kinesis gold (KAU) and silver (KAG) within the Kinesis Monetary System are backed by 1:1 allocated physical gold and silver bullion. 

The completion of Kinesis’ Q4 2023 audit provides the community with absolute reassurance that their gold and silver holdings are in safe hands. Though delivering audits every quarter, Kinesis shows an enduring commitment to upholding the highest standard of security and transparency for the Kinesis community. 

The Q4 2023 audit is available to view on our website here. 

All KAU and KAG circulation figures are publicly available and verifiable on the Kinesis blockchain explorer here. The Kinesis blockchain maintains an immutable and irrefutable ledger of all KAU (gold) and KAG (silver) within the system.

Indonesia

Following the official nationwide launch of the Kinesis-powered physical gold trading applications, POSPay Gold and JFX Gold X, Kinesis has already begun to see an increase in Indonesian users on the platform. 

The number of accounts on these apps has steadily increased, now numbering over 5000 in total. A significant number of small gold transactions coming from individual users can be seen coming through the Kinesis Exchange, with expectations of significant growth in account and volumes in the new year.

POSPay Gold, created in partnership with the Indonesian state-run postal service, PT Pos, and JFX Gold X, created in partnership with the Jakarta Futures Exchange, provide Indonesia’s population with instant access to physical gold trading and ownership, supporting financial inclusion and encouraging the nation’s digital transformation.

This is just the beginning, and the new year will see several new initiatives, including the soft and then grand launch of NU in early Q1 2024. Kinesis gold (KAU) will be added to the mobile apps of two major Indonesian banks; the use of gold KAU is registered with Badan Pengelola Keuangan Haji – BPKH (the state-owned Hajj fund management agency) with over US$10 billion assets under management.

In addition, we are very proud to announce that PT Kinesis Monetary Indonesia is now listed as one of the very few Self-Regulated Organisations (SRO) under the Indonesian commodity industry regulator, Bappebti and the Ministry of Commerce. 

Kinesis Brings Apple Pay to Kinesis Virtual Card Users

The Kinesis Virtual Card can now be added to Apple Wallet, enabling iPhone users to make contactless payments worldwide using gold, silver, and crypto — instantly converted to fiat at millions of stores globally. 

With Google Pay already available, the Apple Pay integration ensures faster, more convenient in-app and web purchases for Kinesis users in 70+ countries, further expanding the utility of digital asset spending. 

The Kinesis Virtual Card supports real-time transactions in gold, silver and digital currencies straight from users’ portfolio balance, with instant conversion to fiat at the point of sale, wherever Mastercard is accepted.

Gold and silver payments at physical stores

Following the launch of Kinesis Pay in February, which allows online merchants to accept payments in gold (KAU) and silver (KAG), the latest iteration of Kinesis Pay brings gold and silver payments to shops and businesses near you.

The release of new printable, reusable Kinesis Pay QR codes makes it easier for businesses and shop owners to accept KAU and KAG payments at their physical locations. 

The Kinesis Pay QR codes can be downloaded from the merchant dashboard and displayed on any shop counter, enabling Kinesis users to scan the QR code and pay with their gold and silver. The new feature is expanding the real-world utility of precious metals and the visibility of gold and silver as a reliable alternative to fiat currencies.

Kinesis Pay is a highly scalable feature that connects business owners with Kinesis’ bespoke payment rail built for accepting Kinesis gold (KAU) and silver (KAG). With Kinesis Pay, Kinesis users can purchase merchants’ products and services directly, using their gold and silver as money.

The Kinesis Pay update is now available for web and Android applications, with the iOS update scheduled for release soon. 

Kinesis websites in additional languages

In a significant stride forward, the Kinesis website is now made available in French, Italian, Polish and Dutch, broadening the range of already existing languages: English, LATAM Spanish, German, and Turkish.

Underscoring the company’s steadfast commitment to fostering global accessibility and inclusivity, the expansion of languages on our website opens Kinesis up to engage more diverse global audiences.

By providing information in multiple languages, Kinesis breaks down entry barriers for everyday citizens wishing to protect their savings in precious metals and creates an approachable and comprehensible hub for users from different countries.

The newly translated websites strongly align with our overarching mission of promoting financial inclusion and literacy on a global scale. Clear and comprehensive information in multiple languages provides a deeper understanding of the platform’s functionalities and benefits of the underlying monetary system.

With additional languages planned in the next year, Kinesis will continue to expand global accessibility to a fair and sustainable monetary system based on precious metals.

Looking ahead to Q1 2024

Buy precious metals & crypto with your debit card

In addition to the multiple depositing and purchase methods available on the platform, users will be able to instantly exchange their local currency for Kinesis gold (KAU), Kinesis silver (KAG) and all cryptocurrencies available on the Kinesis Exchange (except for DASH and XDC).

On a single screen, users will have the option to buy currencies using regionally available payment methods such as their debit and credit cards, as well as Google Pay and Apple Pay wallets.

Minimising the time and effort required, the new purchase method will reduce the barrier to entry of users wishing to acquire precious metals and crypto assets by simplifying the process of on-ramping to the Kinesis platform.

Available in over 165+ countries and territories around the globe, the feature is designed to serve global Kinesis users regardless of their location.

Multi-account feature   

Expanding the range of services available on the Kinesis platform, the introduction of the Multi-account feature is designed to enable Kinesis account holders to effortlessly manage multiple Business accounts within a single primary profile.

This new enhancement will grant users the convenience of switching seamlessly between their primary Individual profile and various business dashboards with a single login – bringing a new level of control over all their portfolios and businesses at no additional cost.

The Multi-account feature allows businesses of all sizes to easily introduce spendable gold and silver to their holdings and integrate with the ever-expanding range of functionalities of the Kinesis monetary system.

Among many others, merchants can integrate the Kinesis Pay plugin into each of their business accounts independently and start accepting gold and silver payments at their online and physical stores. 

CoinTracking integration with Kinesis

Our upcoming integration with CoinTracking, a leading crypto portfolio tracker and tax calculator platform, represents a significant advancement in facilitating tax reporting for Kinesis users.

We are in the process of establishing a long-term partnership and integration with the platform to bring Kinesis users a significant upgrade to tax reporting on the platform. 

A previous issue with importing non-native CSVs has been rectified. Coming this January, CSV imports directly from CoinTracking’s website will be available, and in February, native imports will be available with an integrated API within the Kinesis platform.

In Q1 2024, Kinesis users will be able to use the CSV import functionality to link their Kinesis accounts directly to the CoinTracking tax management tool via an API, allowing all their transactions to be logged automatically. 

This phase of integration will offer tailored tax reports and streamline export/import capabilities for both the Kinesis platform users and the Kinesis Pro Exchange, catering specifically to seasoned traders. Incorporating the tax reporting tool directly into the Kinesis platform is positioned to deliver optimum clarity and simplify everyday saving and spending activities in physical gold, silver and digital assets. The manual CSV reporting function will remain on the Kinesis platform, accessible to all users.

Notably, Kinesis Pay merchants will gain increased control over their diverse portfolios and businesses, further streamlining the management of their gold and silver earnings.

The integrated CoinTracking tax management tool is focused strictly on the transactional and trading activity within the Kinesis platform and exchange, and will not include minting activities on the Kinesis Mint platform at this time, however, it will be planned as the next deliverable with the CoinTracking team.

USDC Stellar 

By popular demand from our community, we have been integrating and will be releasing USDC Stellar into the Kinesis platform in Q1 2024. This will activate a cost-effective gateway for our users to bring USD onto the Kinesis platform.

New Fiat On-Ramps

Management has been working hard in collaboration with partners to bring online new fiat on-ramps to the Kinesis Monetary System for the Kinesis community. New banking options for USD, GBP and CAD are scheduled to go live during Q1 2024.

European Kinesis Card launch

The Kinesis Visa Debit Card is set to roll out across 30 EEA countries in the new year, granting Kinesis users the ability to use physical gold and silver as their primary currencies for daily transactions – with instant fiat conversion at the point of sale.

Cardholders will enjoy the chance to secure their wealth while seamlessly accessing cost-effective spending options for precious metals. The card ensures instant conversion to fiat, presenting a reliable and practical monetary choice amid conventional currencies.

Virtual Card Region Expansion

The Kinesis Virtual Card partner, BAANX, has indicated that new regions including the US will be ready for launch in Q1 2024.

We look forward to being able to finally launch these expanded regions in our community. 

New Products & Partnerships

We have a long list of new products and partnerships that are scheduled for release starting in Q1 2024. These releases will align with broader outreach and well-planned marketing and PR campaigns to expand awareness and adoption.

New products include innovative digital currencies that have been developed in collaboration with partners. We consider all these products to be disruptive and evolutionary in their own ways.

Corporate partnerships from around the world will begin to be announced in Q1 and, although delayed, it appears we are not far away from announcing our second Public Private Partnership (PPP). PPPs remain a focus for Kinesis and we continue with high-level deal-making with governments around the world for existing and new products and services coming online. Government-level cooperation takes time, however, we are confident in our ability to build momentum with various new deals and developments coming online. 

Kinesis Pro

The final stages of development for Kinesis Pro, the professional digital asset trading platform by Kinesis, are taking place as we approach a BETA launch. We’re pleased to announce that the closed beta will be available in Q1 2024 for selected users to test the Kinesis Pro exchange. More details will be released closer to the time of the beta program.

Centred on high liquidity trading pairs and equipped with advanced trading tools and rigorous security protocols, the exchange is positioned to offer an elite trading experience to Kinesis users aiming to expand their digital asset portfolio diversification.

The Kinesis Pro login has been interlinked into the Kinesis Monetary System providing users with this integrated benefit. We expect Kinesis Pro to be a major ecosystem and Master Fee Pool (MFP) contributor as we scale up its commercialisation in the digital asset market throughout 2024. 

IEO and Venture Capital arm initiative

The Kinesis management team has been working with partners on establishing an IEO and venture capital arm to bring new and existing projects to market via the Kinesis Pro exchange. 

The benefits of this service to the Kinesis ecosystem have been thoroughly explored and management deems it to be highly advantageous to Kinesis stakeholders and the community at large. Information to be released when the service is launched.

Kinesis gold-backed banknotes

In the third quarter of 2023, Kinesis forged a strategic global partnership with Valaurum to produce a unique series of Kinesis gold bills, providing gold investors and collectors with an innovative means to spend and securely store physical gold.

The bespoke Kinesis gold bills will encapsulate small denominations of physical gold bullion within banknotes, reintroducing gold as a circulating currency, and solidifying Kinesis’ leadership position in the space of precious metals spending.

These bills will be independently marketed and made available alongside Kinesis’ diverse range of gold and silver bullion products in the Kinesis Bullion store.

Kinesis Merchant Rewards Portal

The Kinesis development team is in full flight in developing the Kinesis Merchant Rewards Portal (still to be named) which will make available to our community over 7,000 global merchant stores for online shopping. The service includes an attractive cash-back rewards program and additional commission revenue to flow into the MFP for all associated purchases.

This ecosystem solution will be a major addition to the Kinesis Monetary System and it is expected to be a significant contributor to the MFP. This is a large project and although not scheduled for release until Q2 2024, we wanted to provide our community with a teaser that this solution is coming. More information on this to come closer to the release date.

New Regional Licensing 

The Kinesis legal team continues to work on new regional licences globally for a range of existing and new services. We expect positive developments in Q1 2024 on this front.

Kinesis Bailee Company

Following a comprehensive legal review and advice, we are targeting a transition to Kinesis Bailee Company as the bailee for KAU and KAG holdings during Q1. Terms and conditions, FAQs and service offering information will be updated accordingly. 

US Debit Cards and Bank Accounts

The Kinesis management team has been working with partners on a US-based physical debit card program and user bank accounts. Although this program is not scheduled to come online in Q1, we wanted to make our community aware that it is coming in 2024.

Kinesis Partner Program

Kinesis is excited to announce the launch of our partner program in early 2024. The Kinesis Partner Program aims to attract high-value partnerships with reputable and leading affiliates in the precious metals, cryptocurrency and payment services spaces.

With the appointment of a dedicated Kinesis Partner Manager and team, Kinesis is in a prime position to drive the expansive growth of the Kinesis Monetary System, amplified through the voices of official Kinesis Partners.

By joining the program, our partners will have access to earn an entirely new Partner Yield that increases proportionally to the trade volume of their Kinesis platform referrals. The Partner Yield unlocks potentially unlimited passive income in gold and silver every month, by driving new users and deposits to Kinesis. 

Going beyond the monetary advantage, the Partner Program will introduce tangible bonuses and Partner events, as Kinesis continues to build a community of dedicated spokespersons that carry forward the mission and heighten its relevance across a range of financial industry niches. 

In Summary

As 2023 draws to a close, the groundwork of the Kinesis Monetary System is now firmly established through the notable expansions of the platform and partnerships secured this year. 

With the addition of SEPA deposits, Kinesis offers European users a simple, low-cost method for seamlessly depositing their Euros onto the platform, empowering them to take the next step in protecting their wealth in precious metals. With the upcoming Kinesis Visa Debit Card (EEA) launch set for early 2024, EEA-based users will be provided with further ease in funding their Kinesis accounts, ensuring that any barriers are removed from making gold and silver their chosen money.   

This year, we continued to fortify the Kinesis Monetary System against the logistical and regulatory challenges that are a natural part of operating within the financial space, to continue providing users with the longevity, and security of a system that is mindful of the uncertain future. 

In response to certain events affecting cryptocurrency users this year, Kinesis has continued to provide absolute reassurance to our community, delivering on quarterly, independent third-party audits this year, enhanced tax reporting functionality and the release of the latest app version for iOS users. 

In Q1 2024, Kinesis looks forward to embracing a collective of key partnerships through the Kinesis Partner Program, to voice the inherent value and long-term mission of the Kinesis system, filtering into every sector of the metals investment, payments and digital asset space. With the Kinesis website now translated into seven additional European languages, we anticipate the immense benefit for users in understanding the Kinesis offering in their native tongue.

In our every move, we are building a system that empowers users to decide exactly what they want out of their precious metals investment journey. Through introducing further utility for merchants with physical QR codes, a lucrative offering for official Kinesis partners, and an even wider range of tradeable sound money assets, we are inviting users to join a community that they are proud to be a part of. 

With so many exciting developments to be announced next year, stay tuned for important company updates on the Kinesis website and our social channels.

As we pave the way toward a sustainable financial future, we thank our community for their steadfast support.

Best regards,

Thomas Coughlin