A system and method for secure peer-to-peer mobile communications using cryptographic mobile unlock tokens (“CK tokens”) in conjunction with mobile devices. Each CK token integrates an entire cryptosystem. Executing these cryptographic based functions entirely in the token have significant operational advantages over the typically memory-only tokens. A more secure, scalable, and lower overall system cost are just a few advantages of the CK token over executing these functions within the smartphone. Of the many uses discussed for the CK token, mobile phone enabling, stored value and medical applications, most have centered on the use of the card in conjunction with a smartphone as the touch point in the transaction.