Fintech startup Token headquartered in the UK and the US has landed $16.5 million in a funding round from Opera Tech Ventures, the venture arm of BNP Paribas, Octopus Ventures, and EQT Ventures.

The startup plans to use the capital to further develop its open banking platform TokenOSTM. As the company puts it, the platform “enables a global ecosystem of banks, their customers and developers to initiate payments and move money and information securely, instantly and frictionlessly worldwide.”

Founded in 2015, Token says that it currently has more than 4,000 banks connected to its platform and is teaming up with Mastercard to work along with other partners to its open banking hub.

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