Table of contents
Q3 – Q4 2024 – Quarterly Update
Virtual Card Pre-Registration
Pre-registration for the Kinesis Virtual Card is open. People who sign up now will get six months of free cashback access once the card goes live. The programme was put together partly because users had asked for something like this.
Cardholders will earn 2 percent in gold on purchases up to $2,000 each month. There are no retailer restrictions. Instant payments made with precious metals or cryptocurrencies carry a 0.22 percent conversion fee. Kinesis also puts an extra 1 percent from each transaction into the Master Fee Pool. The card is planned for use in more than 60 countries.
Metalback Programme
The Metalback programme started in Q3. It lets people earn gold at more than 6,000 retailers, including names such as Apple, Gucci and Samsung. The programme covers the US, UK, Asia, Europe and Australia. Rewards apply to ordinary purchases as well as higher-priced items.
When someone uses the Virtual Card at a Metalback retailer, the two rewards can combine. A store offering 10 percent Metalback would also pay the fixed 2 percent cashback, for a total of 12 percent back in gold on that transaction.
Partner Programme
Several new Partners joined during the quarter, timed around the coming Kinesis Pro release. The first automated Partner Yield payment went through. Plans for later include a system that will pay people who bring in new Partners.
Company Hiring
Robert Kientz started as Head of Operations in the US. He has more than twenty years of experience in financial markets. He previously founded Gold Silver Pros and writes The Freedom Report.
Technical Updates
A few platform changes went live. Exchange performance was improved. The send-to-email tool now supports destination tags for XRP and XLM. Mobile users got a new order widget, and the transaction history page was redesigned.
Dashboard Redesign
A fully responsive dashboard is now available on all device types. After App Store rules limited access for some iOS users, a web-based version was released that matches the main functions of the native app.
Platform Enhancements
The Buy/Sell widget now shows live price checks and fee details before a trade. A target-price tool lets users place limit orders on an interactive chart. The steps for new users signing up were also adjusted.
Expanded Trading Pairs
Fiat pairs for USDT and USDC now include GBP, EUR, AUD, CAD and CHF. Users can move from those local currencies into the stablecoins and then into gold or silver if they want.
DBRP Partnership
A partnership was announced with the Development Bank for Resilient Prosperity. The work focuses on Small Island Developing States.
What’s Still to Come
Kinesis Pro
After roughly two years of work, Kinesis Pro is scheduled to launch this quarter. The project was moved in-house once the limits of third-party systems became clear. The main pieces include a full system re-architecture and a proprietary market-making platform.
Virtual Card Launch
The Virtual Card itself is due to go live in Q4. It will allow real-time purchases with gold, silver and crypto in more than 60 regions. Production testing is in the final stages.
KVT Upgrade
The Kinesis Velocity Token is being moved to the Stellar blockchain. The new version will support divisibility to seven decimal places and updated token rules. Existing KVT will be frozen and then reissued to accounts that have completed KYC.
Gold Bills
The first Kinesis gold bills are planned in partnership with Valaurum. They will contain 9999 fine gold and come in five denominations.