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Ultra Adds New Brazilian Real and China Renminbi Asset Tokens

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13th Feb 2019

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Ultra has expanded the availability of Ultra Assets in its network with the intorduction of Ultra Real (uBRL) and Ultra Renminbi (uCNY), tokenized assets backed by associated currencies and stored in Ultra Asset Vaults on Hub Culture.

The introduction of the Brazilian and Chinese linked Ultra Assets further widens the global footprint of the Ultra Asset system, providing direct conversion capability between Ven and other Ultra Assets for approved clients. Holders of these Ultra Assets are also able to directly transfer these assets on a peer to peer basis, with no exchange fees within the network.

While uBRL and uCNY are not yet fully convertible or withdrawable to a bank account, they represent an important step in Hub Culture's efforts to bring secure realtime transaction capabilities to a diverse array of digital assets using Ultra. Like all projects in the Ultra Asset ecosystem, uUSD, uEUR, uGBP and other available assets like uBRL and uCNY are available via HubCulture.com and require a series of identity and security checks to be passed using HubID, a robust digital identity system.