Last week, pictures were released showing Ray sharing a shock kiss with Kim's sister Denise, although it is currently unclear whether things will go any further between them.
Viewers will see the romantic encounter in early January as Ray comforts Denise (Diane Parish) when she is feeling lonely.
Speaking about the storyline for the first time, Venn told Digital Spy: "Obviously it's about layers and showing the different sides of my character, so for me, this is a wonderful challenge. As an actor, I love challenges so I'm looking forward to seeing how this storyline develops.
"I think Kim would be quite peeved if she found out! Kim can be quite ruthless and she has the infamous headlock, so I have a feeling Ray is going to be experiencing some of that."
Asked whether Ray will ever be capable of settling down with one woman, Venn replied: "Absolutely. Ray has the potential to settle down with one woman, but he is a young, red-blooded male with the tendency to have a wandering eye.
"I believe there will be a ray of light at the end of the tunnel when it comes to the relationship between him and Kim."
Discussing his future at EastEnders, he continued: "I love working on the show. It has such a wonderful atmosphere and it's a very family orientated show, on the inside and outside. I would love to explore the darker side of Ray, so I am looking forward to the future."
Venn spoke to Digital Spy after taking part in a William Hill charity football match to raise money for Project Africa. Fellow EastEnders stars Adam Woodyatt (Ian Beale), Tony Discipline (Tyler Moon) and Matt Lapinskas (Anthony Moon) were also supporting the cause.
Pictured: Adam, Chucky and Matt on the day.
Of his involvement, Venn explained: "Well, I guess there is a slight bias because both my parents are Nigerian. So of course I feel a bit of harsh reality to do it - it's close to my heart.
"I'd say I'm quite competent on the field. I consider myself to be an efficient athlete considering my advancing years! For those who weren't able to attend the match, there's a website you can go to - williamhillprojectafrica.org/ - to make donations. No matter how small, every little bit helps and is greatly appreciated."
The William Hill Foundation Cup took place to raise money for Project Africa, an initiative to help the Island School in Kenya improve their educational facilities. For more information or to donate visit williamhillprojectafrica.org/. Get the Inside Soap magazine on your iPhone or iPad