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

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).

“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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term platform called Kinesis Mint. The platform supports two Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term - 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.

“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.