[PRESS RELEASE – London, United Kingdom, 17th October 2022]
Kinesis, the world’s leading gold and silver-based monetary system, has listed the FIAT-based stablecoin, USD Coin (USDC) on the Kinesis Exchange.
USDC, is the fourth-largest cryptocurrency by market capitalization and the second-largest USD stablecoin in the cryptocurrency industry, with over 49 billion USDC tokens currently in circulation.
Now live on the Kinesis Exchange, USDC will be tradeable against the US dollar, selected leading cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) and Kinesis’ native gold and silver-based stablecoins, Kinesis Gold (KAU) and Kinesis Silver (KAG).
Through the listing, Kinesis users can instantly onramp and trade USDC against physical gold or silver on the Kinesis Exchange – reliable and historically-proven precious metals that act as inflation ‘hedges’, while also earning a yield on their assets through Kinesis’ fee, sharing yield model.
In an important development for the cryptocurrency industry, USDC will become spendable on the Kinesis Virtual Card alongside the existing pool of available digital assets.
Available at over 60 countries globally, including the UK, Eurozone, Canada, Latin America, Australia, and Oceania, the new virtual card will allow users to spend crypto and physical gold and silver in real-time, with instant conversion to local currency at 80+ million locations globally with Mastercard.
Alongside the important accessibility and familiarity of spending fiat-based digital assets such as USDC, the Kinesis Virtual Card brings global utility to gold and silver-backed stable assets – granting Kinesis users the economic freedom of transacting completely outside of the traditional banking system.
USDC will also be tradeable on Kinesis Pro – Kinesis’ professional cryptocurrency trading platform scheduled to release later this year. The platform will bring a professional trading experience to Kinesis users and feature high liquidity trading pairs, innovative trading tools, and best-in-class security.
The USDC listing will enable KAU and KAG, Kinesis’ native gold and silver-based assets, to be traded more efficiently and broadly against multiple stablecoin pairings and expand the global availability of the asset for cryptocurrency and digital asset traders.
Thomas Coughlin, Chief Executive Officer at Kinesis, said:
“We are thrilled to offer Kinesis users the opportunity to trade USDC within our monetary system. The addition of USDC brings further industry diversity to the Kinesis Exchange, alongside an asset with deep liquidity and high trading volumes.”
About Kinesis Money
Kinesis Money is a global digital asset utility platform that facilitates the trade, management, and everyday spending of physical gold and silver-based digital assets and cryptocurrencies.
Through its monetary system, users can earn yields on physical, allocated gold and silver and spend, save, trade, and redeem their precious metals anytime on a global, low-fee basis. For more information about Kinesis, please visit www.kinesis.money
About USD Coin (USDC)
Every digital dollar of USDC on the internet is 100% backed by cash and short-dated U.S. treasuries, so it’s always redeemable 1:1 for U.S. dollars.
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