Hyperion Exchange, a subsidiary of Global Blockchain, has signed an MOU with Kinesis Money, a company offering a unique monetary system based on digital gold and silver currencies.
The Kinesis Monetary System is comprised of two digital currencies based on allocated ownership of physical gold (KAU) and silver (KAG) which can be exchanged digitally as an alternative to fiat currency. The transaction fees are accumulated whenever the currencies are sent, spent or traded and are proportionately redistributed to all Kinesis currency holders, incentivizing use.
Holders of the Kinesis Velocity Tokens (KVT), currently being offered in an Initial Token Offering, receive the highest share of these fees, collecting a 20 percent proportionate share as a recurring yield.
The dual purpose of the MOU is to list the Kinesis Velocity Token (KVT) on the Hyperion Exchange, as well as making the Kinesis gold and silver-based digital currencies available as ‘stablecoins’ on the Hyperion Exchange.
The assets offered by Kinesis Money were developed by the institutional gold trading exchange Allocated Bullion Exchange (ABX), which has stringent third-party audit and quality assurance processes in place. KAU and KAG, therefore, provide alternatives to the fiat-based stablecoin cryptocurrencies that have been widely critiqued for failing audits and falling short of the 1:1 allocation of fiat currencies they promised upon purchase.
“Hyperion is a unique exchange that lists securities tokens, financial securities backed by tangible physical assets, on the blockchain. At Hyperion, we are committed to ensuring best practice in regulatory compliance, listing tokens only after comprehensive verification checks. Kinesis’s unique vision to digitize gold and silver on the blockchain, with physical 1:1 allocation to the underlying assets, makes it a perfect stablecoin fit for our platform and we are pleased to host both Kinesis Money digital currencies on our exchange, as well as their Kinesis Velocity Token. Being licensed to offer trade in security tokens positions Hyperion as the perfect platform to ensure investor and regulator confidence.”
“Accredited investors on the Hyperion Exchange looking for a secure store of value and access to liquidity can now benefit from being able to trade from volatile cryptocurrency positions into the age-old reliability of gold and silver, in the form of the KAU and KAG currencies. Having sold in excess of US$50 million worth of Kinesis Velocity Tokens, we are also delighted to give eligible participants access to liquidity on their investments and allow for new participation in the Kinesis Monetary System.”