Hyperion Exchange is a leading exchange for security tokens in North America. It gives investors the chance to trade digital security tokens using blockchain technology, enabling trades to complete more efficiently and at lower cost than on traditional stock markets.
The Kinesis Monetary System is comprised of two digital currencies based on allocated ownership of physical gold (KAU) and silver (KAG) which can be exchanged digitally as an alternative to fiat currency. The transaction fees are accumulated whenever the currencies are sent, spent or traded and are proportionately redistributed to all Kinesis currency holders, incentivising use.
Holders of the Kinesis Velocity Tokens (KVT), currently being offered in an Initial Token Offering, receive the highest share of these fees, collecting a 20 per cent proportionate share as a recurring yield.
The dual purpose of the MOU is to list the Kinesis Velocity Token (KVT) on the Hyperion Exchange, as well as making the Kinesis gold and silver-based digital currencies available as 'stablecoins' on the Hyperion Exchange.
The currencies offered by Kinesis Money were developed by the institutional gold trading exchange Allocated Bullion Exchange (ABX), which has stringent third-party audit and quality assurance processes in place. KAU and KAG therefore provide alternatives to the fiat-based stablecoin cryptocurrencies that have been widely critiqued for failing audits and falling short of the 1:1 allocation of fiat currencies they promised upon purchase.[1]
The Hyperion Exchange is regulated by the U.S. Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority and the non-profit Securities Investor Protection Corporation.
Michael Zavet, CEO of Hyperion Exchange, comments: "Hyperion is a unique exchange that lists securities tokens, financial securities backed by tangible physical assets, on the blockchain. At Hyperion, we are committed to ensuring best practice in regulatory compliance, listing tokens only after comprehensive verification checks.
"Kinesis's unique vision to digitise gold and silver on the blockchain, with physical 1:1 allocation to the underlying assets, makes it a perfect stablecoin fit for our platform and we are pleased to host both Kinesis Money digital currencies on our exchange, as well as their Kinesis Velocity Token. Being licensed to offer trade in security tokens positions Hyperion as the perfect platform to ensure investor and regulator confidence."
Ryan Case, Chief Commercial Officer of Kinesis Money, comments: "Accredited investors on the Hyperion Exchange looking for a secure store of value and access to liquidity can now benefit from being able to trade from volatile cryptocurrency positions into the age-old reliability of gold and silver, in the form of the KAU and KAG currencies."
Ryan continues: "Having sold in excess of US$50 million worth of Kinesis Velocity Tokens, we are also delighted to give eligible participants access to liquidity on their investments and allow for new participation in the Kinesis Monetary System."
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 a public precious metals exchange and others. Kinesis has raised over $50m during its pre-sale, and is now in its public sales period, ending on the 11th of November 2018. More information available at kinesis.money.
About Hyperion Exchange Inc.
Hyperion is an investment company and technology venture that is building the world's first investment banking and retail grade exchange platform for new and innovative, tokenized financial instruments. (http://hyperion.exchange/)
[1] https://ftalphaville.ft.com/2018/06/25/1529901000000/The-John-Taylor-backed--stablecoin--that-s-backed-by--um--stability/
Source: Kinesis Money