Kinesis Announces Kinesis Currencies Liquidity Partnership with Finemetal Asia

Kinesis Announces Kinesis Currencies Liquidity Partnership with Finemetal Asia
11.07.2018 01:04 pm

Kinesis Announces Kinesis Currencies Liquidity Partnership with Finemetal Asia

Cryptocurrencies

Kinesis, the creator of bullion-based currencies traded on the blockchain, has announced a liquidity partnership with Finemetal Asia, a specialist distributor of physical precious metals. 

Finemetal Asia will be providing liquidity for the soon to be launched Kinesis currencies, which are based on allocated physical gold (KAU) and silver (KAG) and traded on the Kinesis Blockchain Exchange (KBE).

Finemetal Asia, in cooperation with Argor Heraeus, is based in Hong Kong and covers multiple Asian physical bullion trading locations. Among its customers are some of the largest jewellery chains and gold dealers in the world.

The strategic partnership will boost the liquidity available for users of the Kinesis currencies and enhance relevant real-time price assurance.

Ryan Case, Head of Sales & Trading at Kinesis, comments: ‘It is great to see this support coming from the physical bullion industry. We’re setting out to deliver an evolution of the precious metal market and implement a practical and efficient method for physical bullion to be used as a medium of exchange. As we do so, support from key liquidity partners such as Finemetal Asia greatly increases our standing.’

Pádraig J Seif, CEO of Finemetal Asia Ltd, adds: ‘We are excited by the opportunity that Kinesis presents and are ready to participate as gold and silver trading evolve into the digital era. As one of the initial members of the Allocated Bullion Exchange (ABX), we have seen its potential to increase our presence and two-way liquidity across multiple trading hubs. Similarly, we see great potential to add to our physical bullion liquidity by providing liquidity for the gold- and silver-based digital Kinesis currencies.’

Kinesis was founded by Allocated Bullion Exchange (ABX). ABX already has extensive infrastructure and fully operational technology for the trade and storage of physical bullion in 7 locations around the world.

Related News

Paxos Launches New Stablecoin

Paxos today announced the launch of Paxos Standard™, the world's first regulated crypto asset. The Paxos Standard token is fully collateralized 1:1 by the U.S. dollar, issued... Read more »

New York City Real Estate Coin (NYCREC), A Tokenized Real Estate Fund With Cashflow Dividends, Announces Regulation S ICO in Q4 2018

New York City Real Estate Coin (NYCREC), a tokenized real estate fund that allows token holders to enjoy the benefits of fractional ownership of real estate in New York City,... Read more »

Tolar Prototype Demonstration 2.0 to be held in Zagreb

On September 12, starting at 6pm, Tolar HashNET, 4th generation blockchain, will have a live presentation to demonstrate its prototype with a speed reaching 150,000 TPS on 100... Read more »

Game-changing $1 TRILLION USD Industry cryptocurrency crowdsale launched

A new cryptocurrency created to shake up the payment systems of the $1 TRILLION USD Meetings, Events and Weddings industry (MEW), has been launched as a token sale on the... Read more »

Cryptocurrency outfit Abra enters Europe through Coinify partnership

Abra, the first and only all-in-one cryptocurrency wallet and exchange, has partnered with Coinify, the leading global technology gateway for virtual currencies, to extend... Read more »

The Founding of Cryptix Holding AG in Switzerlands’ crypto valley ‘Zug’-

A Swiss full-service Blockchain service provider and research center with international expansion plans and ambitious goals.

The cryptix Holding AG was... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App