Kinesis: Now with StableCoin Pairings for 8 Fiat Currencies
XLM will be one of the many stable coin pairing options of the 8 fiat currencies available, including USD, GBP and EUR. [This makes Kinesis] accessible for users who want to keep their funds balanced against central bank-issued fiats.
Kinesis users can now use XLM, the 10th-ranked cryptocurrency. This coin is paired with 8 fiat currencies, including USD, GBP and EUR. Kinesis' native stable coins based on physical gold (KAU) and silver (KAG) will also be available for trading with XLM - making it easier for cryptocurrency traders and investors to access the platform.
The Kinesis Virtual Card allows users to spend their cryptocurrencies, gold or silver in real-time, globally. XLM is also spendable on the card, which has an existing pool of cryptocurrencies.
XLM’s listing was a logical choice, as Kinesis’ native digital gold and silver-based assets, KAU and KAG, are forked from the Stellar blockchain.
Kinesis can deliver faster, low-cost global remittances and instant payments in gold and silver through the Kinesis platform by leveraging the Stellar blockchain.
Kinesis users can now transfer money instantly, using the value of gold and silver as a stable base, while avoiding high fees and FX rates that are often associated with traditional remittance services.
Jai Bifulco, the Chief Commercial Officer at Kinesis, says that Stellar's addition to the Kinesis ecosystem is very welcome. He adds: "With XLM listed on our platform, holders of stellar can now not only trade XLM but use the asset as a real-world currency. In addition, Kinesis allows users to hedge in our native gold and silver-based assets, KAU and KAG."
Kinesis is a blockchain platform that seeks to revolutionize
Kinesis Money is a global platform that enables the trading, 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, or redeem their precious metals anytime on a global basis.