Tokenized’s new API tools make it ‘a serious competitor to Banking-as-a-Service solutions’

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Contract and token management platform Tokenized has released a set of tools that will make it easier for businesses, organizations and even individuals to integrate Bitcoin into their projects. The full API set and documentation are now available on Tokenized’s website.

We're proud to announce the launch of Tokenized API, the backbone of our Smart Contracting Platform (PaaS).

We are officially open for business.

The official announcement can be found on our blog.

Likes, retweets & claps are greatly appreciated. 🙏https://t.co/uCkV2sJQWx

— Tokenized (@Tokenized_com) March 31, 2021

With its technical backbone now fully available, Tokenized can focus on bringing more clients into the Bitcoin world and looking at solving their specific business problems. In a blog post announcing the launch, Tokenized CEO James Belding said the company’s aim is “to connect market participants and make voluntary exchange simpler, faster, and lower cost.”

He described Tokenized’s features as “a serious competitor to cutting-edge Banking as a Service (BaaS) solutions” that would create whole new markets. Tokenized’s system “features groundbreaking capabilities never seen before in a production system,” he wrote. Tokenized provides 24/7 B2B support for users, and is also ready to support potential users with advice and guidance on how they can integrate Bitcoin to suit their specific needs.

Discussions with potential users

Speaking to CoinGeek, Belding said his company is currently talking to a number of companies who are interested in leveraging the platform to issue smart contracts “for some very exciting use cases.”

“This launch allows our prospective customers to begin to evaluate our solution, and some of these companies have already started testing our platform’s capabilities. We look forward to spending the coming months collaborating with them to develop industry-leading products and services.”

Key features of Tokenized’s system include the new API set, a user-friendly smart contracting and management engine that can be used without coding knowledge, full token issuance and management, P2P asset transfers and atomic swaps, plus oracles and on-chain messages. Its contracts are flexible and can be easily updated/amended, while recording all changes on the blockchain for later reference and proof.

Tokenized’s code is open-source, fully utilizes Bitcoin Script, is “SPV friendly” without backwards compatibility issues, and is able to integrate with non-blockchain banking services for fiat currency on/off-ramps. Security and identity are central to its integrity, with KYC features and Vaults/Lockboxes for user-created and other assets.

The Tokenized ‘Platform-as-a-Service’ (PaaS)

The APIs are an essential part of Tokenized’s “platform as a service” model, which includes a full-featured web app, a mobile app companion, a digital wallet service, smart contract agent hosting, a client library, a KYC verification service and banking gateway, Paymail and oracle hosting, and other Bitcoin-related infrastructure services.

There are two versions of the APIs. One is the Live version, which handles real assets and data on the blockchain, and the other is a Test version. The Test API is a sandboxed mirror of the Live API that contains its own database of users, contracts and assets, and approves all handshakes automatically — allowing developers to try out the features and test how to integrate them into their own solutions.

Accessing the Live API requires creating and registering an “authentication device” in code, the instructions for which are here. In its documentation, Tokenized also offers instructions on how to create a JSON web token to access its endpoints, and how to create secure handshake operations required to gain access via its Authenticator app.

“We’re excited to meet new prospective customers that are looking to build high-quality solutions that deliver real and long-lasting value to people around the world,” Belding added. “If you think our platform may be able to help your business, then please don’t hesitate to reach out by sending an email to [email protected]. We’d love to schedule an intro call to discuss your vision and needs.”

Watch the Tokenized demo with founder and CEO James Belding: