Today, Kinesis Money is announcing the launch of its cutting-edge blockchain-based platform, the Kinesis Mint. The Kinesis Mint, which will cement Kinesis’ position in the market as a formidable global fintech player, is a platform which allows users to create Kinesis digital currencies, KAU (1gm gold) & KAG (1oz silver), into existence.
Kinesis Money is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction fees accumulated whenever the currencies are sent, spent or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield, incentivising use.
“Minting” is the process of creating Kinesis currencies by depositing fiat to purchase bullion or depositing existing bullion into the Kinesis Mint. The physical metal is then emitted to their bespoke fork of the stellar blockchain and represented in a user’s eWallet; facilitating remittance over the stellar blockchain, which enables global transactions of over 3000 transactions per second with a settlement time of 3-5 seconds at a flat fee of 0.45%.
With recent developments raising questions on the feasibility of USD and cash-based stable coins, perhaps this is an ideal time for adoption of a gold-based stable coin. One run by an institutional and commercially responsible company.
Kinesis is revolutionising the precious metals industry by eliminating fees for the storage of physical gold and silver bullion in addition to providing holders with a multifaceted fee sharing yield model bringing more value to gold and silver holders via these yields.
Thomas Coughlin, CEO of Kinesis Money ,
