Token Pay is a blockchain-based open banking payments platform that incorporates Bitcoin cryptography technology with advanced security and privacy features. TPAY is the backbone of the Token Pay platform. Here, on the platform, a single API (application programming interface) for payments and data is offered by the token. In a nutshell, being Asia-Pacific (APAC) focused, Token Pay embraces cryptocurrencies at a rapid pace.

According to the whitepaper, the platform has integrated banking strengths with cryptocurrency’s future potential. The aim of the project is to facilitate ordinary cryptocurrency to hard asset transactions with ease. Moreover, the project is packed with multi & ring signatures, zero-knowledge proofs, dual-key stealth addresses, unbreakable Tor network integration, and a closed-end secure communication interface. Therefore, the platform claims to be more secure, as all the transactions are carried out in an anonymous way on Token Pay.

Further, the platform allows account-to-account payments straight from apps and websites. Besides bank payments and data access, Token Pay has other multiple uses, such as low-cost bank transfers for fintech funding, making recurring payments (loans/rental payments), and initiating payment requests1. 

Furthermore, the token TPAY is a proof-of-stake token that gets distributed as a reward to the users of the network using a crypto wallet. Also, the users of the network generate the essential TPAY private key on a secured Token Pay server that keeps the wallet safe and not exposed to malware. 

The whitepaper on Token Pay was published in the fourth quarter of 2017. However, the idea was conceived in the fourth quarter of 2015 when the beta version of the platform was launched. The Token Pay team includes Derek Capo as CEO (chief executive officer), Carlos Salazar as CTO (chief technology officer), Joseph Pacetti as CFO (chief financial officer), and John Singh as CMO (chief marketing officer).  Token Pay released 14,250,000 TPAY coins on 7 December 2017 to the public through an ICO.