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.
