Payment network using tradable financial assets
US10621561B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 28, 2018 |
| Grant date | Apr 14, 2020 |
| Priority date | — |
| Expiry date | Sep 28, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In one embodiment, a method includes receiving a request for payment associated with a transaction between a merchant and a customer, where a payment amount is specified in a fiat currency, determining a preference of the customer to pay for the transaction using a security asset, and verifying that a value of the security asset held by the payment system and assigned to the customer is sufficient to satisfy the payment amount. The method also includes initiating a transfer of at least a portion of the value of the security asset from a customer balance of the customer to a service balance of the payment service, initiating a transfer of a value in the fiat currency from the service balance of the payment service to a merchant balance of the merchant, and storing a record of the transaction between the customer and the merchant.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.