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Token opens London office

Crypto-payment network and API firm Token has opened a new office in London following its  launch in June. Token aims to but banks “in sole control of the entire digital payments chain”, and deliver them instant compliance to the EU’s PSD2 regulations. Its “banking as a platform” service uses each bank’s policies and integrates it with a core API that transforms them into cryptographically secure digital payments.

Banks can use Token’s network to issue and redeem payment authorisations as smart tokens, which can be programmed with terms and conditions according to its own needs. “For banks, comparing Token to other API-based solutions for PSD2 is like comparing military-grade VR to Pokémon Go,” says Steve Kirsch, Founder and CEO of Token. “Token gives banks full immersion and total control, and they barely need to move a muscle. Other solutions have banks chasing shadows and taking all kinds of risks just to stay in the game.”

The team at the firm comprises former hires of Google, Barclays, Citibank, MIT, Amazon and Facebook. The new office, situated in Canary Wharf, is the company’s first venture outside of Silicon Valley and, it says, is reflective of its focus on helping out Europe’s banks.

By Alex Hamilton

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