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Thomas Coughlin: Building a Golden Payment System

Tom welcomes Thomas Coughlin, CEO of Kinesis Limited and Allocated Bullion Exchange, to the show. Thomas discusses how Kinesis was formed out of Allocated Bullion Exchange which started taking form after the 2008 financial crisis. At the time, counterparty risk was substantial, so they built a facility to allow allocated metals ownership.

They wanted to combine the blockchain with metals to have a digital exchange, so they started Kinesis. He discusses Gresham’s law and the need to build and incentivize the utility of their system. They use an incentive system where a portion of paid fees for services is returned to the users.

Thomas explains how the system works from signup and why they require KYC to use all of the platform’s features. They are working on a debit card program that allows users to utilize the system for everyday payments. They support several cryptocurrencies on the exchange, along with several fiat currencies. With these, you can effectively purchase gold and silver in the system.

Their pool of metal works in an allocated manner, and they have a facility that will allow a user to hold unique bars on a segregated basis. He says, “Ultimately, this will be a way to monetize your bars and coins.”

Thomas details how their minting process and exchange work in creating and converting assets. They currently hold in physical approximately 1.3 million ounces of silver along with 25 million dollars in gold. He notes they are still in the startup phase of their operations.

They also permit physical delivery subject to some minimum account holdings, and Thomas outlines the redemption process.

Time Stamp References:
0:00 – Intro
1:01 – What Kinesis Solves
7:42 – Using Kinesis
9:43 – Transferring Assets
10:48 – Metal Holdings & Title
12:55 – Debit Card Usage
15:00 – Kinesis Metal Holdings
16:24 – Yield System
23:14 – Fees, Mint, & Exchange
25:42 – Merchant Accounts
26:30 – Uses of Tokens
28:59 – Indonesia Project
34:27 – KYC & The Unbanked
36:33 – 2021 Roadmap
39:53 – Trading KVT
41:24 – Blockchain Details
43:24 – Physical Delivery
45:00 – Wrap Up

Talking Points From This Episode

  • Foundations of Kinesis
  • Metal Holding, Currencies and Debit Card
  • Details on their yield system and blockchain.
  • Kinesis Roadmap for 2021

Guest Links:

Thomas Coughlin is the Chief Executive Officer (CEO) of Kinesis Limited and CEO of Allocated Bullion Exchange (ABX). He has worked in the investment, funds management, and bullion industries for approximately seventeen years. His professional portfolio management career spans the foundation of the boutique investment company TRAC Financial and the establishment of a highly successful Absolute Return Fund. Thomas has dedicated a significant part of his career working collaboratively to build the complex systems of a cross-border international bullion market with an extensive global network of central bankers, brokers, fund managers, and advisers. His experience, extensive network, and broad knowledge of capital markets enable him to deliver exceptional value and insight to all stakeholders.

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