From a Venmo press release this morning: “Venmo today announced the launch of Crypto on Venmo, a new way for Venmo’s more than 70 million customers to buy, hold & sell cryptocurrency directly within the Venmo app. Beginning today, Crypto on Venmo offers customers a way to start their crypto journey alongside the many ways they already use Venmo to spend & manage their money. Customers using crypto on Venmo can choose from 4 types of cryptocurrencies: Bitcoin, Ethereum, Litecoin & Bitcoin Cash. More than 30% of Venmo customers have already started purchasing crypto or equities, 20% of which started during the pandemic.” Purchases can be made for as little as $1.
Someday all assets will be digitized & tradeable on secondary markets. The Venmo news is an early indication. Taking the next step in the revolution of money is the better use of data. Bitcoin gets the headlines, yet having a plan to make sense of one’s data for commercial real estate, private equity, private credit, mining, or data lending is paramount. Third party, credentialed data builds trust. The Inveniam operating system will be a key cog in the plumbing of the global financial system for decades to come. If you’re not paying attention to changes in money & data, you’re following behind. Time to move. #Inveniam