[PRESS RELEASE – London, United Kingdom, 31st August 2022]
Kinesis, the world’s leading monetary system based on gold and silver, has listed XDC on the Kinesis Exchange.
XDC will be tradable against eight fiat currency pairs including the US dollar, the British pound and the euro along with the local gold and silver-based Kinesis stablecoins, KAU and KAG.
Users can instantly trade XDC for gold or silver on the exchange to start earning a return on their assets with Kinesis’s suite of return products.
XDC will be spendable on the Kinesis Virtual Card along with the current set of cryptocurrencies available. The virtual card allows users to spend with instant transfer, in real time, using cryptocurrencies such as Bitcoin, Ether and XDC along with gold or silver at more than 46 million locations globally.
XDC will also be available for trading on Kinesis Pro – Kinesis slated for release later this year.
The inclusion of XDC represents the first phase of the long-awaited partnership between the XDC Foundation and Kinesis formed in February 2022.
The second phase of Kinesis’ collaboration with XDC will begin with the development of an interoperable multi-chain bridge to Kinesis’s Stellar-based blockchain, allowing assets to seamlessly transfer between the two ecosystems.
Billy Seibel, CEO of XDC, said:
“Congratulations to the Kinesis team on their 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 scalable blockchain ecosystem.”
This interoperability between XDC and Stellar networks will also enhance Kinesis’ blockchain infrastructure. It will enable KAUST and KAG to trade more efficiently across the cryptocurrency ecosystem and expand the global availability of assets.
Thomas Coughlin, CEO of Kinesis, said:
“We are excited to open up Kinesis users to the benefits of the burgeoning XDC network and integrate their cutting-edge solutions with our system.
By listing XDC on the exchange, we can expand the range of our cryptocurrencies available for trading while also extending the reach of our gold and silver backed tokens, KAU and KAG. The concept of connecting two ecosystems with such robust infrastructure and shared principles of sustainability is what drives our partnership at its core.”
As the partnership progresses, Kinesis will continue to leverage XDC’s secure and scalable blockchain infrastructure to provide Kinesis users with greater network scaling, asset liquidity, and interoperability while bringing emerging technologies to the forefront of business.
Kinesis Money is a global digital asset utility platform that facilitates the daily trading, management and spending of digital assets and cryptocurrencies based on gold and silver.
Through its cash system, users can earn returns on physical and custom gold and silver and spend, save, trade and redeem precious metals at any time on a global low-fee basis. For more information about Kinesis, visit www.kinesis.money
About XDC Network (XDC)
The XDC Network is a Tier 1 compliant enterprise-grade EVM network equipped with interoperable smart contracts. The XDC Network, a highly optimized, dedicated fork of Ethereum, achieves consensus through its delegated Proof of Stake (XDPoS) mechanism, allowing for 2-second transaction times, near-zero gas fees, and more than 2,000 transactions per second (TPS). The XDC Network is secure, scalable, and highly efficient, powering a wide range of new blockchain use cases. For more information about the XDC Network, visit https://xdc.org.
The XDC Trading Now post on Kinesis Exchange first appeared on CryptoPotato.