RenGen Labs to Host ITO for Gold-based Monetary System Kinesis Money After 50 Million Raised
Thursday, September 13, 2018
LONDON, September 13, 2018 /PRNewswire/ --
RenGen Labs [https://www.rengenlabs.com/# ] will offer investment options in Kinesis
Money [https://kinesis.money ] to their 45,000 investors
RenGen Labs, a platform which serves over 45,000 registered investors, has today
listed gold-based monetary system Kinesis Money as an option to accredited investors.
Kinesis' RenGen Labs-hosted Initial Token Offering (ITO) for the Kinesis Velocity
Token (KVT) comes as Kinesis announces having successfully sold over 55,000 KVTs, raising
over $50 million just in their pre-sale period, already significantly over the $18.6
million average raised per ITO in the last year.
RenGen Labs have established themselves as the go-to platform for compliant landmark
equity and token offerings. They identify companies across a variety of industries and
perform extensive due diligence on issuers to bring investors verified token deals. In
doing so, RenGen Labs provide a crucial role in the estimated USD 16.2 billion yearly ITO
market, in which unregulated and unverified offerings have made headlines.
In one of the most successful token offerings to date, tZero [https://www.tzero.com ],
the blockchain offering from NASDAQ-listed Overstock, utilised the RenGen Labs platform to
raise more than USD 100 million in a SEC-regulated initial token offering.
Kinesis Money offers two digital currencies based on ownership of gold (KAU) and
silver (KAG). Founded by the Allocated Bullion Exchange, the leading online institutional
exchange for physical bullion, Kinesis is built on an extensive infrastructure for trade
and storage of precious metals in 7 locations around the world.
Investors in Kinesis' KVT ITO will earn up to 20 per cent of the total transaction
fees generated by users of the Kinesis Monetary System, which is attracting significant
interest from the world's estimated USD 15 trillion gold industry.
Emre Okay, Chief Executive Officer at RenGen Labs [https://www.rengenlabs.com/# ],
comments: "At RenGen Labs we provide a secure and trusted platform for investors who want
to access the exciting opportunities of compliant ITOs. We marry the innovation of
cryptofinance platforms with the expertise and discipline of traditional investment
"Our due diligence and governance structure ensures we uncover the most credible token
offerings for our investors. This has become increasingly important as there is a huge
amount of interest, excitement and opportunity in the ITO space, and investors should have
the confidence to take part without worrying about credibility."
Thomas Coughlin, CEO of Kinesis [https://kinesis.money/en ] Money, comments:
"Investment in ITOs has doubled in the last year alone. Investors are on the lookout for
the credibility and quality assurance that Kinesis has to offer and our $50 million in KVT
sales and agreement with RenGen Labs bears testament to this."
"There is circa USD 15 trillion in gold traded every year, creating exceptional but
untapped potential for investment and exchange if gold can be remonetised. Adding a yield
to this exchange multiplies this potential exponentially. Kinesis' unique vision of
tapping into this value by digitalising gold ownership on the blockchain, enabling
efficient transactions and incentivising exchange, puts investors in a favourable position
to maximise returns.
We look forward to working with RenGen to play a key role in driving the existing
momentum towards the Kinesis target of 210 million USD"
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 [https://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 $15m during its pre-sale, which is
still running until September the 10th 2018. More information available at kinesis.money
About RenGen Labs
RenGen Labs is a United States based company committed to providing investors a secure
and compliant platform for investing in SAFTs and token sales. RenGen Labs offers
individuals and professionals a platform to connect with companies issuing SAFT agreements
and token sales with secure accreditation and KYC/AML checks. More information is
available at rengenlabs.com [http://www.rengenlabs.com ].
SOURCE Kinesis Money
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