RenGen Labs to Host ITO for Gold-based Monetary System Kinesis Money After 50 Million Raised
LONDON, September 13, 2018 /PRNewswire/ --
RenGen Labs will offer investment options in 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[1].
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, 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, 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 functions.
"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 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"
About Kinesis
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. 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.
[1] https://cryptonews.com/news/on-average-an-ico-raised-29-more-this-year-excluding-telegra-1626.htm
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