BNP Paribas’ venture arm backs $16.5 million round for startup Token

Opera Tech Ventures, the venture arm of investment banking giant BNP Paribas, has backed a $16.5 million investment round for open banking platform provider Token. Token announced the news Tuesday, saying that existing investors Octopus Ventures and EQT Ventures also participated in the round, among others.

The investment will go toward building its platform TokenOS, which “enables a global ecosystem of banks, their customers and developers to initiate payments and move money and information securely, instantly and frictionlessly worldwide,” according to the announcement.

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Token said it recently partnered with Mastercard, and that more than 4,000 banks are connected to its platform, including Tandem Bank, Think Money Group, An Post, Sberbank Cr