|[July 25, 2014]
Hub Culture and UC Group Partner for New Services Using Ven Digital Currency
NEW YORK --(Business Wire)--
Culture, the innovation-led social network service operating the
global digital currency Ven, today announced in New York the appointment
of the UC Group as an official Ven Authority. The deal lays the
groundwork for new Ven services in the payment processing, retail and
security sectors worldwide by the UC Group.
Payment management company, the UC Group, processes over 200 million
online payments annually. The UC Group also enables an online, real-time
fraud-reporting and avoidance model which minimizes worldwide fraud
patterns and trends, and is developing an audit program to support
proposed new rules and regulations relating to virtual currency in New
York State. The integration of Ven into these services will open a
market of over 500 million online consumer transactions for downstream
integation. As part of the arrangement, Hub Culture also receives
agency coverage for MSB licensing and national banking license coverage
in the United States for Ven vertical activities executed through the UC
Group of companies.
Hub Culture Founding Director, Stan Stalnaker announced the
launch during a CAPCO hosted roundtable on digital currency
institutional trading in New York. "Working with the UC Group as an
Authority will deepen our roots in payment processing and forex hedging,
providing useful benefits and cost-savings to consumers and companies
across a wide spectrum."
Mr. Kobus Paulsen, CEO of the UC Group, commented, "The UC Group has
rapid expansion plans; in just the past few weeks we've launched our own
licensed acquiring bank, a prepaid card solution in partnership with
First Data, and ST-1, our end-to-end payments platform for high risk
operators. Integrating with Ven is part of this strategy for ambitious
About Hub Culture and Ven
The Hub Culture community is driven by four projects: the Ven digital
currency, Pavilions for meeting and connecting, knowledge brokerage, and
Online Identity Management - HubID.
Ven is the only digital currency to be priced from a basket of
currencies, commodities and carbon futures, making it green, grounded
and stable. Ven is growing as a transparent financial tool for
individuals, companies and institutions worldwide. .
Learn more: HubCulture.com and
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