Kinesis engages Contis Group to launch UK and European debit card for its digital gold and silver currencies
London 4th June, 2019: Today, Kinesis Money announces the initiation of its UK and EU debit card
program with Contis Group, the award-winning platform as a service (PAAS) that
provides end-to-end banking and payments solutions. Kinesis has selected Contis
for its European and UK debit card solutions and has officially started
developments, scheduled for release in Q4.
The release of these EUR and
GBP-denominated debit cards will cement Kinesis’ position in the market as a
formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients
in the UK and Europe to easily and efficiently use their Kinesis currencies to
make purchases anywhere that has a merchant facility, as well as withdraw funds
via global ATM networks.
Kinesis 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. These yields grow as the user base grows and
recur forever, creating a monthly income for users, against everyday
transactions and holdings.
The new debit card is to be powered
through a partnership between Kinesis Money and Contis which enables customers
to leverage their extensive partner network. Contis Financial Services Ltd is
authorised by the Financial Conduct Authority.
The Kinesis debit card is set to be
integrated into the highly anticipated Kinesis Monetary System, scheduled to
launch in Q3 2019, providing seamless spending and management of the Kinesis,
blockchain-based, gold and silver-based currencies.
Thomas Coughlin, CEO of Kinesis Money, comments: “It’s a positive step for us, as this partnership
with Contis represents an important step in the release of our pioneering
Kinesis Monetary System. The global shift towards agile banking is picking up
momentum, and Kinesis is setting a precedent in this banking evolution. The new
Kinesis Monetary System and associated debit card aims to provide a stable,
trustworthy platform based on physical gold and silver currencies that
consumers are looking for.”
Flavia Alzetta, CEO of Contis, comments: “Contis is excited to be moving forward with
Kinesis Money who have an exciting potential and ambitious plans. As their
partner for their card issuing and account, Contis’ highly configurable and
reliable platform will enable Kinesis to scale as they grow. We look forward to
partnering with them on that journey.”
About Contis Group
Contis is a leading provider of
award-winning, end-to-end, banking, payments and processing solutions. Founded
in 2008 by Peter Cox, Contis’ proprietary, scalable platform manages both bank
and Visa payments in real time. One of the FT1000: Europe’s Fastest Growing
Companies 2018, and a 2018 Sunday Times Tech Track 100 Fastest Growing private
financial companies, Contis has offices in the UK, Europe and India providing
modular banking solutions to third parties, in addition to a number of branded
and white-label banking products, offering full current account capability.
Contis benefits from a full license suite, including FCA eMoney License
covering the EEA, and is a Principal Visa member with sponsorship capability.
Kinesis is a monetary system based on the traditionally
stable commodities, gold and silver. Kinesis users can instantly spend their
precious metals holdings at point of sale anywhere in the world with the
Kinesis debit card or transfer directly over the blockchain, opening up cross
border payments with low transaction fees. Unlike other gold and silver backed
cryptocurrencies, Kinesis currencies are divisible digital units of physical
gold and silver, using the blockchain as a medium of exchange and a registry of
ownership. The movement of Kinesis currency creates velocity and fee sharing
yields that are given back to participants, every month, creating a passive
Holders of the Kinesis currencies
have allocated legal title to the underlying physical bullion holdings that are
fully audited, eliminating counter-party risk and allowing for physical
redemption directly from one of seven Kinesis vaulting providers.
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