Account tokenization for virtual currency resources
US10607215B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 30, 2015 |
| Grant date | Mar 31, 2020 |
| Priority date | — |
| Expiry date | Mar 25, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/065
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments of the present invention are used in a token based financial transaction system, whereby individual tokens associated with one or more financial accounts provided to one or more third parties. Embodiments credit an amount of a virtual currency in at least one bank account of a customer, wherein the at least one bank account has an associated amount of funds that is increased by the credit of the amount of virtual currency; generate a payment token associated with the at least one bank account of the customer; receive a transaction request to process a transaction using the token; determine that the transaction request is associated with a transaction having a transaction amount less than or equal to the amount of funds associated with the at least one bank account; and approve and settle the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.