CoolBitX Adds Support for 3 Kinesis-Issued Tokens to Its Wallet

Two of the tokens are pegged to bullion, while the other one is native to the platform.

London-based Kinesis on Wednesday announced its partnership with CoolBitX Technology, a hardware wallet maker, to add support of its tokens on the wallet platform.

Per the partnership, CoolBitX’s crypto hardware wallet CoolWallet S will support two bullion-pegged digital currencies issued by Kinesis – gold-pegged KAU and silver-pegged KAG. Along with them, the wallet will also add support for the Kinesis Velocity Token (KVT).

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“Our customers expressed the need for a secure, hard wallet solution to protect their Kinesis currencies and we listened,” Thomas Coughlin, chief executive of Kinesis, said. “We are very excited to be able to deliver this solution to our customers and even happier still, with such a cutting edge product built by an industry leader in hard wallet technology. CoolWallet is a great solution and we look forward to launching this as an option that provides our customers with greater peace of mind.”

Bullion-backed digital coins

Kinesis launched the bullion-backed digital currencies last May on its blockchain platform called Kinesis Mint. The platform supports two cryptocurrencies –  KAU, one unit of which is backed by one gram of gold, and KAG, which is backed by silver – and also allows users to receive tokens in exchange for both fiat and physical bullion.

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“We are proud to be the partner of choice for Kinesis in offering their customers a safe, user-friendly way of securing their digital assets. Our CoolWallet S solution is aimed at giving consumers the certainty that their assets are secure, while maintaining flexibility and ease of use through Bluetooth connectivity,” Michael Ou, CEO of CoolBitX, added.

CoolBitX is one of the fastest-growing hardware wallet platforms in the crypto industry. The company partnered with crypto exchanges including DX.Exchange, Binance, and SBI VC to provide secure storage solutions for user funds.

The company is also developing a KYC/AML solution to provide regulatory services to the exchanges.

“The KAU and KAG tokens serve as valuable additions to the CoolBitX ecosystem, as the first precious-metal backed tokens on CoolWallet S, while the Kinesis team share our overall ambition of providing a safe and efficient user experience for all members of the trading community,” Ou said.

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