The FinTech Start-up Token receives a Funding of 16.5 million dollars. The Open Banking platform, collected during a financing round, Venture capital, large investment firms. In the adaptation of its product Token was most recently a collaboration with Mastercard. A cooperation, which makes the Start-up for investors is probably more attractive. A Series B funding round Token announced for the next year.
From Polina Khubbeeva
20. June 2019BTC$9.350,00 2.44%part Facebook Twitter LinkedIn xing mail
a Token is a FinTech Start-up based in San Francisco and London. The company, which banks information infrastructure on crypto-base collected is now $ 16.5 million in investments. This is the risk investment news page FinSMEs reports on the 18. June, 2019. Among the investors, renowned investors such as Opera Tech Ventures, Octopus Ventures and EQT Ventures accordingly.
in 2015 by Steve Kirsch, works tokens with more than 4,000 financial institutions. In 2017, it is collected in a Series A round of financing already 18.5 million US dollars. Among the cooperation partners of the FinTechs the Tandem Bank, the Think Money Group, To Post and Sberbank Croatia/Slovenia. A Series B funding, the company is planning for the year 2020.
credit card giant Mastercard is one of the companies that use token services for their innovations. According to the Token speaker Erin Lovett, this partnership represents “the first step in a major infrastructure provider in the direction of the Open Banking.” Token developed connectivity systems for Mastercards Open Banking Hub. This allows third parties a platform for the exchange of payment information.
Token uses the funds for the adaptation of its platform
The Start-up plans to plug the Funding in the adaptation of its product TokenOS. This, in turn, consists in an Open Banking platform, banks using new technologies helps cost of payment acceptance to save. Specifically, Token combined APIs, crypto-based security features and digital currencies.
The result of this is a communication platform for its clients, provides customer information in great style is in the end. Thus, banks receive non-bureaucratic and time-saving data from various external sources. The Institute, save, therefore, research effort, and Operations processes in a way. Furthermore, the banks reduce their storage requirements in and to customer data.
Token X: The Stable Coin for the time of real payment processes
another product of the Start-ups in the crypto-currency to exchange tokens X. The Stable Coin is still running on Stellar and Ethereum. It works similar to Facebook’s Libra Coin. Users use it for financial transactions in real-time. The Coin is also coupled 1:1 to Fiat money. A distinctive feature of the Coins is also the method the intensive KYC. Transactions with a Token X to be wash in addition, Anti-money criteria (AML) can be scanned.
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