Who?
Thomas Coughlin is the CEO of Kinesis Money as well as Allocated Bullion Exchange (ABX). He has worked in the investment, funds management and bullion industries for approaching two decades.
Why?
Kinesis is a monetary system ‘that gives everyday people the ability to make a complete transition away from the pitfalls of fiat paper money’.
What?
A virtual card, provided by Baanx, which allows users to spend digitally allocated gold and silver in real-time with instant fiat conversion – anywhere that accepts Mastercard.
How?
Users opening an account can spend Kinesis gold (KAU) and silver (KAG) with the card, which enables real-time conversion of assets into instant fiat currency, at the point of sale. The technology is also available to anyone with a mobile phone, making it a useful and accessible tool for underbanked and unbanked demographics.
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Where?
Kinesis Money is based in London. The Kinesis card is available in over 60 countries across Europe, the UK, Canada, Latin America and Oceania.
They say:
Coughlin: “For centuries, gold has been the foundation on which financial systems were built. By digitising physical gold and allowing people to spend it anywhere via their card, we have provided individuals with a real solution. This comes at a time when the last couple of years have shown just how flawed paper money is… the fiat experiment has failed.”
Garth Howat, CEO of Baanx: “This is another step to bridging the gap between fiat and digital assets.”
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