A Brief History of Kinesis Quarterly Updates and Other Company News
Let’s have a look at what Kinesis has claimed to be doing over the past three years and compare it to what they’ve actually accomplished.
July 28, 2021: History made. Kinesis Quarterly update.
A firm date for the big Indonesia launch will be coming soon.
Once we have a more firm timeline for the country-wide launch of PosGO Syariah, we will update the community.
October 15, 2021: Q3 Update - Historic Milestone for Precious Metals Industry
Indonesia’s PosGO Syariah will launch “shortly.”
In turn, we anticipate that both PT POS and the Indonesian government’s goal and plan to launch PosGO Syariah to the widest possible audience will happen shortly.
January 28, 2022: Q4 - Quarterly update - Kinesis Global System Expansion
JFX has “soft launched” with the rest of the Indonesian project slated to roll out over the remainder of 2022.
For the first time, the member firms of JFX and their millions of clients will be able to trade spot physical gold in international pricing and liquidity pools via the KMS/KAU. The product has been soft-launched as of January 2022, with a full JFX rollout and marketing campaign across Q1 2022 and beyond.
The PT Pos Board of Directors has decided to add the PosGOLD app (updated name change from PosGO) and all the functionality as a subset of the existing PosPay App. The PosPay App has over 1 million accounts, with PosGOLD automatically being available to that large user base. In addition, as previous, PT POS will mandate all 45,000 employees to register a PosGOLD account. There are Indications from the PT Pos Board that the addition of PosGOLD to PosPay is planned for Q1 2022.
The NUGold App project, in conjunction with the 100 million members Nahdlatul Ulama (NU) Islamic social organisation together with the Kinesis Indonesia teams, has completed the necessary bank integration for fx conversion during Q4 and is positioned to begin the planning for the launch in the coming months.
April 26, 2022: Q1-Q2 - Quarterly Update - Ecosystem Expansion
PT Pos and JFX full roll out is expected in Q2 2022.
While the roll-out to their respective existing and future target markets is up to PT Pos and JFX, we have been working closely with them on this plan. We expect both products and applications to go full live launch in Q2 2022. As the marketing plans and outreach programs for these products get enacted and operational, we will keep the Kinesis community apprised of all the details.
August 1, 2022: Q2-Q3 - Quarterly Update
The “roll out sequence” has been “cordinated and jointly set”. The platforms will ramp up to 1,000 accounts on August 19, 2022.
The roll-out sequence of KAU on PosPay Gold and JFX Goldex beyond the small regulatory required internal “soft-launch” has now been coordinated and jointly set.
From 1-18 August, the platforms will ramp up to 1000 accounts and on 19 August, they will be completely open to the public at large. A full Grand Launch event will be held on that day, with the Minister of Commerce presiding. This plan was designed to coincide with the Indonesia Independence Day holiday celebrations commencing 17 August.
Development of Kinesis Pro is “well underway” and the “official launch” is planned for “later this year.”
In advance of the launch later this year, the development and bespoke design of our native cryptocurrency exchange platform, Kinesis Pro, is well underway. The Pro trader platform will serve users with a market-leading cryptocurrency trading experience, listing a wide range of cryptocurrency assets and pairs on a high-speed, high liquidity platform.
The exchange will form an imperative part of Kinesis’ growth strategy and expand on our commitments to offer a fair, open and more honest platform for traders to trade and invest in cryptocurrencies and physical metals.
Stay tuned for the official launch of Kinesis Pro planned for later this year.
August 30, 2022: Kinesis & JFX launch JFXGOLD X
JFXGOLD X is “launched” in Indonesia.
Kinesis is proud to announce the launch of JFXGOLD X, in partnership with Indonesia’s national commodity and futures exchange, the Jakarta Futures Exchange (JFX).
The launch of the JFXGOLD X product sees Kinesis provide spot physical gold contracts on Jakarta Futures Exchange, for the first time in the government-backed exchange’s almost 25-year history.
November 4, 2022: Q3-Q4 - Quarterly Update
Kinesis is “gearing up” for the “full launch” of POSPAY GOLD in Q4 2022.
Following the launch of JFXGOLD X, Kinesis is now gearing up for the full launch of POSPAY GOLD in Q4 2022, the gold-based financial app in partnership with the Indonesian state-run national postal service, PT POS.
View the website here: https://pospaygold.id/
The launch of POSPAY GOLD will see the app rolled out in phases to the entire population of Indonesia, commencing with the one million existing accounts of PT POS’ POSPAY App.
Additionally, MetalGO is already “live!”
MetalGO is live as of the 21st October. See the MetalGo website for the mobile application functionality, including “Gold to Mecca” and MetalPay using KAU. MetalPay is integrated and supported by five large Indonesian banks: BCA, CIMB Niaga, Permata Bank, BNI and Mandiri Bank.
Kinesis Pro will launch in Q4 2022!
The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is now in the advanced stages ahead of a prospective Q4 launch.
January 16, 2023: Tether Delisting
Kinesis CEO, Thomas Coughlin claims that Tether ($USDT) is in the process of being delisted.
Yes, I agree 100% with delisting USDT and have confirmed the move with our Executive Committee. Kinesis in no way is exposed to market price risk of the coin and it was listed simply as a bridge into Kinesis, however there is no longer any benefit and the reputational risk has got large enough to completely de-risk. Decision made, we will be delisting it.
January 20, 2023: Q4 - Q1 2023 Quarterly Update
In Q4 2022, Kinesis was licensed and approved by the regulator. Wait what? Didn’t they state above that JFXGOLD launched in Q3 2022?
In the fourth quarter, the Kinesis local Indonesia entity, PT Kinesis Monetary Indonesia (PT KMI) was approved and licensed by the government regulator as a Gold Depository Manager. PT KMI is currently the only entity in Indonesia to have such a licence.
POSPAY GOLD had a “soft launch” in early January 2023.
Early January saw the soft launch of POSPAY GOLD and the commencement of the internal campaign to onboard POS employees. The annual PT POS CEO Summit was held in January, bringing together the POS Board of Directors, Senior Management, Division Heads and Branch Directors. POSPAY GOLD signage and collateral were present during the week-long event. In addition, a POSPAY GOLD presentation event was held for over 200 Branch Directors.
Kinesis Pro is now in the”advanced stages” ahead of a “prospective launch in early-mid 2023.” What happened to the Q4 2022 launch?
The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is now in the advanced stages ahead of a prospective launch in early-mid 2023.
Stay tuned for the official launch of Kinesis Pro later this year.
April 18, 2023: Q1 - Q2 2023 – Quarterly Update
Another successful integration in Indonesia!
In another successful integration, we announced a new Kinesis-powered, white-labelled gold savings application for the Indonesian Hajj Brotherhood Association (IPHI).
In line with their “commitment to transparency,” Kinesis has already “established” a new “bailee company.”1
In line with a continued commitment to transparency, Kinesis provided a recent live interview that covered the latest developments in Indonesia, the KVT yield launch, the Physical Mint and the establishment of the new Kinesis Bailee company.
Kinesis has established a new Bailee company, which is in the process of setting up accounts with the vaults. The strategic purpose of the Kinesis Bailee company is to simplify the safekeeping arrangement of bullion underlying KAU and KAG precious metals assets.
Kinesis pro is still in the “advanced stages” of its devleopment in line for a “prospective luanch in Q2.”
The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is now in the advanced stages ahead of a prospective launch in Q2.
July 6, 2023: Q2-Q3 2023 – Quarterly Update
The first “official release” of the “PT Kinesis Monetary Indonesia (KMI) Gold Depository Management approval” by “BAPPEBTI” has taken place. Now the public can use JFXGOLD X which was “launched” in August 2022.
How was JFXGOLD X “launched” a year earylier without a licnese?
The first is the official release of the “PT Kinesis Monetary Indonesia (KMI) Gold Depository Management Approval” by BAPPEBTI. The physical check process by BAPPEBTI, Indonesia’s Commodity Futures Trading Regulatory Agency, will ensure that the physical gold
kept by Kinesis in the custodian warehouse is genuine, LBMA-accredited 999.9 gold.
The official release now opens the door for the public to carry out physical gold transactions digitally on the JFXGOLD X exchange trading platform, using the Pospay Gold feature in the Pospay Application or via the MetalGO Application safely and reliably. These platforms form a crucial part of our Indonesian growth, and we’re also laying the groundwork for smooth onboarding with upgraded KYC processes within Indonesia by working closely with an array of major banks in Indonesia, including Artha Graha International Bank.
Kinesis Pro is still in the “advantaged stages” of its development and will launch in “early Q3.”
The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is now in the advanced stages ahead of a prospective launch in early Q3.
Updates on the “Kinesis Bailee Company” are conspicously missing from this “Quartelry Update.”
October 27, 2023: Q3-Q4 2023 – Quarterly Update
In September, 2023, “POSpay Gold,” “officially launched,” “nationwide.” The “full launch” of “POSPAY GOLD” announced in November 2022 and scheduled for “Q2 2022” was something different.
In September, the Vice President of Indonesia, K.H. Ma’ruf Amin, officially launched the Kinesis-powered physical gold trading application, POSPay Gold, nationwide.
Created in partnership with the Indonesian state-run postal service, PT Pos, the POSPay Gold application provides Indonesia’s predominantly Muslim population with instant access to Sharia-compliant physical gold trading and ownership.
The development of Kinesis Pro is “nearing completion” ahead of its “official launch.”
The development of Kinesis Pro, Kinesis’ professional cryptocurrency trading platform, is nearing its completion ahead of the official launch.
Updates on the “Kinesis Bailee Company” are again conspicously missing from this “Quartelry Update.”
December 28, 2023: Q4 2023 – Q1 2024 – Quarterly Update
Kinesis claims that POSPay Gold and JFX Gold X are “really seriously they swear this time launched” now and there are now over 5,000 active accounts. No word on why these accounts don’t produce any measurable revenue (see chart below) or what happened to the 50,000 accounts by the end of 2023 that Kinesis promised to their investors.
Following the official nationwide launch of the Kinesis-powered physical gold trading applications, POSPay Gold and JFX Gold X, Kinesis has already begun to see an increase in Indonesian users on the platform.
The number of accounts on these apps has steadily increased, now numbering over 5000 in total. A significant number of small gold transactions coming from individual users can be seen coming through the Kinesis Exchange, with expectations of significant growth in account and volumes in the new year.
Kinesis Pro is now in the “final stages of development” and a “closed beta” will be available in “Q1 2024.”
The final stages of development for Kinesis Pro, the professional digital asset trading platform by Kinesis, are taking place as we approach a BETA launch. We’re pleased to announce that the closed beta will be available in Q1 2024 for selected users to test the Kinesis Pro exchange. More details will be released closer to the time of the beta program.
The “Kinesis Bailee Company,” which was “established” in early 2023, and Kinesis assured investors would be in place by October 2023, is now finally ready for a “transition” “during Q1 2024.”
Following a comprehensive legal review and advice, we are targeting a transition to Kinesis Bailee Company as the bailee for KAU and KAG holdings during Q1. Terms and conditions, FAQs and service offering information will be updated accordingly.
May 9, 2024: Q1 - Q2 2024 – Quarterly Update
Yet another Indonesian app is launching on May 18, 2024, and will definitely add 100 million Indonesians to the “Kinesis Monetary System.”2
We are pleased to announce the soft launch of the NUNOMICS APP on 18 May, with the full launch event, including top government officials, set for July/August.
The NUNOMICS APP is the everyday lifestyle and financial health assist tool for the exclusive use by the over 100 million members of the Indonesian religious/social community organization – Nahdlatul Ulama (NU).
Kinesis Pro has somehow traveled backwards in time (much like ABX auditors) since December 2023 when the “final stages of development” were “taking place.” Unfortuantely, Kinesis Pro was only nearing its “final stages of development” as of May, 2024. The Kinesis team is now “preparing grounds” for the “forthcoming launch.” What happened to the Q4 2022 launch?
As Kinesis Pro, the professional digital asset trading platform from Kinesis nears its final stages of development and testing, our team is preparing grounds for the forthcoming launch.
The “Kinesis Bailee Company” is again missing in action from this quarterly update and has yet to make an appearance on any of the ABX audits Kinesis is still trying to pass off as their own.
Kinesis revenues continue their downward spiral toward zero. The Mint Cycle Scheme is still the only way Kinesis has ever produced any significant revenues.
As of June 14, 2024, Tether ($USDT) remains listed on the Kinesis Monetary System exchange.
As of June 12, 2024 the “bailee company” is not in use if it exists at all.
May, 2024 was one of the worst months on record for the “Kinesis Monetary System.”
Very comprehensive and revealing thanks