FAQ

About Token

Where is Token located?

We're headquartered in San Francisco, California and have additional offices in London and Berlin.

What does Token do?

Our grand vision is to make it as easy to send money globally as it is to send an email or text message. The first step on that journey was to provide an open banking platform, TokenOS, which connects developers and banks. You can learn more about our TokenOS based offerings at Token PSD2, Token Connect and Token BankPay.

The second step on the journey is to offer digital money in the form of a stablecoin, Token X. The stablecoin allows near instant settlement of payments at very low cost and is more secure than other payment options.

Token X

How is Token X different than other stablecoins?

The Token X USD stablecoin is FDIC insured up to $25 million for verified users. Token X stablecoins work across multiple blockchains. We’ll soon support fiat in/out for a large number of currencies and the stablecoins will be available for over 30 fiat currencies. Token X is the brainchild of Steve Kirsch, a serial Silicon Valley entrepreneur with multiple billion dollar exits.

Why is Token getting in to digital money?

Digital money ultimately fulfills Token’s vision of moving money instantly, anywhere, anytime.
Token’s open banking platform addresses the problem of data access and payment initiation. Token X takes this a step further by addressing payment execution.

How is Token X different than bitcoin?

Bitcoin is a decentralized digital currency without a central bank or single administrator. Token X is collateralized “stablecoin”, meaning a digital currency that is 1:1 backed by fiat money.

Where can I use Token X?

Initially, Token X currencies are available on the Stellar network. Token X currencies will trade on Stellar exchanges. Ethereum will be added soon.

When will Token X be available?

Token X will be available to the public in October 2018.

How do I know that the Token X currencies are 1:1 backed by fiat?

Regular audits are performed by independent auditors to attest that the number of Token X coins in circulation match the assets in escrow. The audit reports will be available on the Token website.

Which currencies does Token X support?

First U.S. dollars, but about an additional 30 currencies will be added before end 2018.

What is USDx?

USDx is Token X’s digital money representing USDs in escrow. Other currencies follow the same naming convention - EURx, GBPx, HKDx, CADx, JPYx, CHFx, etc.

Does Token X compete with banks?

No. Token X is complementary to banks’ services. Connected with the Token X network, banks provide an instant on/off ramp for digital money.

Is there Token X mobile app?

Not yet, but soon there will be. Stay tuned...

Is Token X an ICO coin?

No Token X is not an ICO coin. A Token X coin is simply a digital representation of fiat currency. There is a 1:1 relationship between the number of coins in circulation and the assets held in escrow.