Token to Spin Off Digital Money Solution Token X to Form M10

Share this post

10 December 2019 – Leading open banking platform provider,, today announces the formation of M10 Networks, a new spin out company focused on developing digital money solutions.

Token will continue to consolidate its leadership in open banking infrastructure, where its popular market platform enables developers and banks to create innovative and trusted financial experiences through enhanced connectivity to global banking.

In contrast, M10 will focus on building out a bank-grade digital money rail that enables multinational banks to perform international money transfers, settlements and remittances instantly and at a low cost. Until now, M10 has been incubating under the Token X moniker.

Token will continue to be led by current CEO, Todd Clyde. Steve Kirsch, Token’s founder and current Chief Innovation Officer, will become CEO of M10. Marten Nelson, Token’s current CMO, becomes M10’s COO. The spin out has the full endorsement of Token’s Board of Directors.

“Token’s mission is to put a bank in every app,” comments Todd Clyde, Token’s CEO. “Our open banking market platform enables banks, merchants and developers to realise the promise of financial APIs today: seamless connectivity between banks and the world of commerce. The digital money standard which we have been incubating is equally unique and, as it emerges from the developer labs, now needs dedicated R&D to fulfil its potential. Now is the right time to form M10; the spin off will enable both entities to continue to develop their core propositions in parallel and without distraction.”

Steve Kirsch, CEO, M10, adds: “M10 is a new digital money payment rail that enables banks to increase their financial agility and evolve a new suite of international transfer services for their corporate and retail customers.

“Our mission is to overcome the problems related to transferring money internationally, so people worldwide can do business without friction. On M10, intra-bank transfers, cross-border remittances, FX, IoT payments and B2B payments can all be performed in real-time, with no counterparty risk and at a lower cost than existing rails. M10 is already in proof-of-concept trials with several financial institutions, and we will soon be announcing our first customers.”

Jo Oliver, Partner, Octopus Ventures, comments: “Spinning M10 out from Token is a strategic decision that will give both teams the dedicated resources they need to thrive. While Token extends its global leadership in open banking, M10 can now establish a new category in digital money. This is an exciting moment in the history of both companies, and we look forward to working with Token and M10 as they continue to grow.”

Token and M10 will remain close partners to enable synergies for their respective customers.

Token will retain its offices in San Francisco, London and Berlin. M10 is based in Silicon Valley. In addition to Steve Kirsch and Marten Nelson, the R&D team who were dedicated to the digital money proposition at Token will move across to M10.

To learn more about Token’s open banking platform, please visit To learn more about M10, please visit

More To Explore


Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.


Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?