MBAex, the largest blockchain assets trading platform in Southeast Asia with over 1.3 million users, has announced a Memorandum of Understanding (MOU) with Kinesis Money. The partnership is in line with MBAex’s vision to promote the use of blockchain assets that are safe and stable in value.
Kinesis Money is an evolutionary monetary system that uses real assets (gold and silver) as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, and the transaction fees accumulated whenever the currencies are sent, spent or traded are proportionately redistributed to Kinesis currency and token holders, incentivising use.
Holders of the Kinesis Velocity Tokens (KVT), currently being offered in an Initial Token Offering, receive the highest share, being 20 percent of the proportionate share of these fees.
MBAex are torchbearers for good governance within the industry, being fully compliant with anti-money laundering laws. Additionally, by integrating best practice from the banking industry, MBAex applies a variety of measures to ensure security. This includes industry principles including two-factor authentication, cool stockpiling and tracking to ensure end-to-end security in transactions. By listing the Kinesis digital currencies on their exchange, MBAex will engage participants looking for options which are both stable and secure.
MBAex also combines the concept of forex brokerage with blockchain asset trading; a powerful combination to encourage a rise in transaction and trading volumes of Kinesis digital currencies. This will allow Kinesis Money to cement its place in Southeast Asia and build on this solid foundation for enhanced global access.
Sebastian-Ionut Diaconu, Chief Executive Officer at MBAex comments: “MBAex is pleased to announce this MOU, with the aim of delivering a superior stablecoin offering to our client base.
The new Kinesis currencies, KAU and KAG, are representative of physical gold and silver and can even be redeemed as such. With delivery locations for the underlying precious metals behind the Kinesis currencies including Singapore and Hong Kong, we see a great value-add for our clients.
We are also pleased to be discussing with Kinesis the listing of the KVT on MBAex. We see the big potential of the Kinesis currencies and the KVT gives our traders the opportunity to participate in the success of these.
Ryan Case, Chief Commercial Officer at Kinesis Money comments: “The Kinesis digital currencies, KAU and KAG, provide audited, liquid and secure stablecoins, with real-world utility, for traders on the MBAex exchange. This partnership opens up the Kinesis digital currencies to a large pool of new participants, amplifying our access to global markets and showing the continuing interest in and adoption of our currencies.
Bryan Feinberg, CEO & Founder of Etheralabs comments: “we are thrilled to be part of the both the structuring and execution of this partnership as it represents deep value for both companies and the communities each represents.
About Kinesis Money
Kinesis is a monetary system which is based on the traditionally stable commodities, gold and silver. The Kinesis Monetary System allows participants to mint their precious metals onto the blockchain using a bespoke process developed by Kinesis in partnership with Allocated Bullion Exchange, abx.com. Participants can then spend this physical bullion using the Kinesis debit card and the Kinesis eWallet. This system is made safe and reliable by strategic and technical partnerships with an institutional precious metals exchange and others. The Kinesis Velocity Token is a utility token attached to the success of the Kinesis system, providing participants with a 20% share of all the transaction fees generated proportionate to their holdings of the limited 300k supply. Almost 60,000 KVTs have been sold to date and are currently for sale to the public at USD1,000/KVT. KVTs are now in the public sale period, ending in March 2019. More information available at kinesis.money.
Established in Cyprus as MBAEX ONLINE PTE. LTD. (MBAex), MBAex is a cryptocurrency-trading platform which utilizes blockchain technology to manage digital currency transactions. We are a platform that enables merchants and consumers to conduct trading on popular blockchain assets and digital currencies Our Company is comprised of professionals from Europe, Southeast Asia and China, with extensive background and experiences in foreign exchange industry, banking industry, blockchain asset management and other financial technology industry.