[PRESS RELEASE – London, United Kingdom, 31st August 2022]
Kinesis, the world’s leading gold and silver-based monetary system, has listed the XDC coin on the Kinesis Exchange.
XDC will be tradeable against eight fiat pairs, including USD, GBP and EUR alongside Kinesis’ native gold and silver-based stable coins, KAU and KAG.
Users can instantly trade their XDC against physical gold or silver on the exchange to start earning a yield on their assets through Kinesis’ array of yield products.
XDC will be spendable on the Kinesis Virtual Card alongside the existing pool of cryptocurrencies available. The Virtual Card allows users to spend with instant conversion, in real-time, using cryptocurrencies such as bitcoin, ether and XDC alongside gold or silver at 46+ million locations globally.
XDC will also be available to trade on Kinesis Pro – Kinesis’ professional cryptocurrency trading platform scheduled to release later this year.
The listing of XDC marks the first phase of the much-anticipated partnership between the XDC Foundation and Kinesis that was formed in February 2022.
The second phase of Kinesis’ collaboration with the XDC Foundation will begin with the development of an interoperable cross-chain bridge to Kinesis’ Stellar-based blockchain, enabling assets to be transferred seamlessly between the two ecosystems.
Billy Sebell, Executive Director at XDC Foundation, said:
“Congratulations to the Kinesis team on its integration with the XDC Network. We look forward to the next phase of cross-chain interoperability with the Kinesis blockchain, which will contribute to a robust and expandable blockchain ecosystem.”
This interoperability between the XDC and Stellar networks will also improve Kinesis’ blockchain infrastructure. It will enable KAU and KAG to be traded more efficiently across the cryptocurrency ecosystem and expand the global availability of assets.
Thomas Coughlin, Chief Executive Officer at Kinesis, said:
“We are thrilled to open up Kinesis users to the benefits of the thriving XDC Network and integrate their cutting-edge solutions with our system.
By listing XDC on our Exchange, we can broaden our array of cryptocurrencies available to trade whilst further expanding the utility of our native gold and silver-backed tokens, KAU and KAG. The very concept of bridging two ecosystems of such robust infrastructure and shared principles of sustainability is what fuels our partnership at its core.”
As the partnership progresses, Kinesis will continue to leverage the XDC Network’s scalable and secure blockchain infrastructure to bring greater network expansion, asset liquidity and interoperability to Kinesis users whilst bringing emerging technologies to the forefront of operations.
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 XDC Network (XDC)
The XDC Network is an enterprise-grade, EVM-compatible Layer 1 network equipped with interoperable smart contracts. A highly optimized, bespoke fork of Ethereum, the XDC Network reaches consensus through a delegated proof-of-stake (XDPoS) mechanism, which allows for two-second transaction time, near zero gas fees, and over 2,000 transactions per second (TPS). Secure, scalable, and highly efficient, the XDC Network powers a wide range of novel blockchain use cases. For more information about the XDC Network, please visit https://xdc.org.
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