Kinesis is proud to announce the successful completion of our second biannual, independent audit.
On 22nd October 2020, Inspectorate International, a leading global physical commodity audit and inspection specialist, conducted a full audit of all physical gold and silver bullion underpinning Kinesis gold and silver-based digital currencies.
The results of the audit verified that every KAU and KAG within the Kinesis monetary system is backed by an exact 1:1 allocated quantity of gold and silver bullion.
See the full audit report here.
Inspectorate International conducted a complete audit of all gold and silver bullion within the Kinesis vaulting infrastructure. The third-party audit specialist then checked their findings against an inventory report of all precious metals attributed to Kinesis AG. Prior to the audit, Allocated Bullion Exchange (ABX) provided the inventory report on 16th October 2020.
The results
Here are the findings of the report:
KAU: 147,611.035 (as at 05:36UTC Fri, 16 Oct 2020)
KAG: 403,277.781 (as at 05:36UTC Fri, 16 Oct 2020)
The independent audit confirmed the following precious metals quantities held by Kinesis AG as at Friday 16th October 2020.
Gold: 147,611.035g
Silver: 403,227.781ozt
As promised, every gram of gold and every ounce of silver behind Kinesis KAU (gold) or KAG (silver) is securely held within our global vaulting network.
How exactly does the audit work?
On 22nd October 2020 independent officers from Inspectorate International entered the Kinesis vaulting facilities and physically tallied the quantity of gold and silver. Shortly thereafter, the inspectors checked the total against the quantity reported by ABX in the inventory report on 16th October 2020.
As well as recording the quantity, the auditors assessed the quality and weight of a random selection of gold and silver bars. For this purpose, the inspectors carried out tests to assess the weight and fineness of the bullion. Additionally, the auditors assessed whether or not the quality of the storage facility was satisfactory.
Inspectorate International’s report shows that Kinesis passed all criteria of the inspection.
How do I know my gold is secure?
The physical gold and silver behind KAU and KAG sits in independently audited and insured world-class vaulting facilities. Spanning 12 cities in 8 countries, the Kinesis vaulting network covers all of the major trading hubs globally.
Inspectorate International
We place great value in preserving the trust of our users. That’s why we employ world-class independent audit and inspection specialist, Inspectorate International, a Bureau Veritas company.
The result of our second independent audit, follows on from the success of our first, earlier in the year. Our second biannual audit provides further assurance to all current and prospective users of the Kinesis Money platform.
When it comes to precious metals and asset-based digital currencies, Kinesis understands the total transparency required for users to feel their investment is in safe hands. Consequently, we will continue to deliver independently conducted, biannual audits to provide you with the transparency you deserve.
Want to see for yourself?
View the results here.
