Cross-border payments platform Caxton is piloting a new direct payments solution for clients of its multi-currency prepaid MasterCard. The new capabilities come courtesy of a partnership with open banking champion Token.

The integration allows Caxton clients to use the Caxton mobile app to load their prepaid cards directly from their bank account. By leveraging Token’s open banking expertise, Caxton is able to remove friction, lower costs, and benefit from instant money movement.

The company facilitates this direct connection by forgoing debit card rails and instead routing customer payment information using a Smart Token, which transmits only a representation of cardholder data and not the data itself. Token is integrated with Caxton’s existing infrastructure to offer the company direct access to their clients’ banks, given their permission.

In the press release, Marten Nelson, co-founder and CMO of Token said, “Our partnership with Caxton reinforces our commitment to all players in the digital ecosystem; we exist to help them lower costs and deliver an amazing, market-differentiating experience to their customers, through a rich, yet simple integration.”

Caxton has 750,000 private and business customers who processed 7.3 million transactions last year using its multi-currency cards and international bank transfer services. The company plans to begin the rollout of the new service in the third quarter of this year.

Founded in 2003, Caxton leverages the blockchain to help users send cross-border money transfers with less friction and at a lower cost than with traditional banks. At FinovateEurope 2017, the company demoed its Firebird Payment Engine, a private blockchain ledger that facilitates payments without the need for an API. Last June, Caxton debuted multi-currency accounts for SMEs.

Headquartered in California, Token offers banks, payment service providers, developers, and merchants access to the benefits of open banking. The company helps organizations securely connect to their customers’ bank account information in a secure and compliant manner using its Smart Token technology. The company showcased its PSD2 compliant solution at FinovateEurope 2017 in London. Last month, the FCA granted Token authorization for open banking payment and information services.