[PRESS RELEASE – London, United Kingdom, 1st July 2022]
XLM, the 10th cryptocurrency listed, is now available to Kinesis users. XLM will be paired with 8 fiat pairs including USD, GBP and EUR, as well as Kinesis’ native stable coins based on physical gold (KAU) and silver (KAG) – enabling greater access to the platform for cryptocurrency traders and investors. .
As with the existing pool of cryptocurrencies, the XLM is spendable on the Kinesis Virtual Card – which allows users to spend their cryptocurrency, gold or silver in real time globally.
The listing of XLM was a natural choice, as Kinesis’ native digital gold and silver-based assets, KAU and KAG, are built on a fork of the Stellar blockchain.
By leveraging the Stellar blockchain, Kinesis can provide users with fast, low-cost global remittances and instant payments in gold and silver via the Kinesis platform.
Since its implementation in 2019, Stellar technology has allowed Kinesis users around the world to send and receive money instantly using a stable value of physical gold and silver, while allowing users the high cost of traditional remittance provisioning and FX fees. helped to avoid.
Jay Bifulko, Chief Commercial Officer, Kinesis commented, “Stellar joining the Kinesis ecosystem is very welcome, as Kinesis has been a proud supporter of Stellar since its inception. With XLM listed on our platform, Stellar holders are now Can not only trade XLM but use the asset as a real-world currency. Additionally, Kinesis allows users to hedge in our native gold and silver-based assets, KAU and KAG, thereby Allows the global crypto community to park their crypto profits in a stable value of gold while the crypto market experiences volatility.
Kinesis Money is a global digital asset utility platform that facilitates the trading, management and everyday spending of physical gold and silver-based digital assets and cryptocurrencies.
Through its monetary system, users can earn returns on physical, allocated gold and silver and spend, save, trade and redeem their precious metals anytime on a global, low-fee basis.
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