Fintech agency Token has acquired a $16.5 million injection from buyers together with the enterprise arm of banking big BNP Paribas, a information launch announced on June 18.
The self-described open banking platform says it'll use the capital to additional develop its TokenOSTM working system — and “speed up new methods of innovating funds with digital cash and ID options.”
Based on the corporate, its ecosystem allows banks, clients and builders to finish transactions securely, immediately and with much less friction. Token claims greater than four,000 banks have related to its platform, with Mastercard just lately approaching board as a companion. Steve Kirsch, Token’s founder and CEO, stated:
“For banks, establishing an early place on this new hyper-connected market is a aggressive benefit; a brand new wave of unbiased monetary apps and providers will quickly be obtainable to their clients, so banks have to be clear about their future roles.”
BNP Paribas’ Opera Tech Ventures was concerned within the newest funding spherical, in addition to present buyers together with Octopus Ventures and EQT Ventures.
Earlier this week, it was confirmed that Italian banks are planning to deploy blockchain know-how to enhance transparency in transactions between monetary establishments beginning subsequent yr.
On June 13, blockchain software program consortium R3 revealed it's creating a blockchain platform in Brazil with three international banks. Final month, greater than 50 banks simulated letter of credit score transactions utilizing one of many firm’s methods.
