Hub Culture and Payward Inc. today announced the launch of trading for Ven on Payward's Kraken digital currency exchange. Ven is one of the world's leading digital currencies and is featured this week at Money2020, a financial technology conference in Las Vegas.
Starting today, approved users of Kraken will have the ability to purchase, trade and sell Ven as part of a suite of digital currencies currently available on the exchange, including Euros, Dollars, Bitcoin and Litecoin.
Until now, Ven enjoyed exchange only within the Hub Culture social network, as a medium of value for trades, knowledge, products and services inside the global community. Dozens of Hub Culture Pavilions have used Ven in locations as diverse as London, Los Angeles, Miami, Venice, Beijing, Durban and Davos. Ven exchanges via a P2P platform on Hub Culture, and is the only 100% asset backed digital currency, tied to a basket of underlying currencies, commodities and carbon futures.
The underlying basket both diversifies Ven and helps to promote stability, while creating a new type of environmental asset that supports the environment as its circulation grows. Specifically, growth in Ven circulation has resulted in the preservation of over 5 million trees in the Amazon through a partnership with theAmerican Carbon Registry.
Because Ven runs through a central ledger and involves limited exchange to cash instruments through regulated third parties, such as Kraken, it has been recognised as a more stable and transparent alternative to other virtual currencies, and exhibits a six year track record of stability and reliability tied to its formulation, with over 50 FORTUNE 500 companies holding or having exchanged Ven since 2007.
"The Kraken exchange offers new entry points to Ven through other virtual currencies like Bitcoin, greatly expanding the ecosystem. Ven is super stable, and it's a great asset to hold in portfolios seeking stability at large. "The partnership with Payward will allow Hub Culture to expand liquidity for Ven and give users the ability to cash-out with the advanced reugulatory oversight Payward provides." said Jesse Powell, CEO, Payward Inc. (Kraken.com).
"Ven availability on Kraken opens up functfunctional liquidity for this asset and offers Hub Culture members new ways to use and leverage the benefits of digital currency. We're excited to extend Ven to more financial innovators through the partnership with Kraken, and to extend the environmental benefits of Ven financial activit to new audiences." said Stan Stalnaker, Founding Director of Hub Culture.
"Today Kraken.com joins VenCurrency.com and HubCulture.com in a blue-chip list of places consumers and financial professionals from around the world can access and use Ven. It marks a big step for digital assets at large, and opens new horizons for micro-payments, liquidity and more."
Ven availability on Kraken is limited to jurisdictions where Kraken has completed their regulatory compliance requirements for trading digital assets.