Kinesis Money has collaborated with Contis Group to launch UK and EU debit card programme for its digital gold and silver currencies.

The development of the debit card solutions, which slated to release in fourth quarter of this year, has already been started.

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Kinesis is a monetary system that uses real assets of gold and silver as the source for digital currency. The digital currency offers 1:1 allocation of physical bullion.

Kinesis debit card:

Using the card, Kinesis currency users will be able to pay for their purchases anywhere that has a merchant facility.

The card can also be used to withdraw cash through global ATM networks.

The new Kinesis debit card will be integrated with Kinesis Monetary System, which is expected to be launched in the third quarter.

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The integration will provide seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.

Kinesis Money CEO Thomas Coughlin said: “The new Kinesis Monetary System and associated debit card aims to provide a stable, trustworthy platform based on physical gold and silver currencies that consumers are looking for.”

Contis CEO Flavia Alzetta said: “Contis is excited to be moving forward with Kinesis Money who have an exciting potential and ambitious plans. As their partner for their card issuing and account, Contis’ highly configurable and reliable platform will enable Kinesis to scale as they grow. We look forward to partnering with them on that journey.”