Cryptocurrency payment network

US11710108B2 · kind B2 · utility

Assignee

• Block, Inc. · US

Inventors

• Christopher Michael Brock · Berkeley, US
• Brian Grassadonia · San Francisco, US
• Michael Moring · San Francisco, US

Key dates

• Filing date: Nov 15, 2019
• Grant date: Jul 25, 2023
• Expiry date: Nov 15, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/4012
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In one embodiment, a method includes receiving a request for payment associated with a transaction between a first user and a second user, where the request specifies a payment amount in a fiat currency and identifying an indication that the first user intends to satisfy the request for payment using a non-fiat instrument. The method also includes initiating a first transfer of a value corresponding to the payment amount in the non-fiat instrument from a first balance of the first user to one or more service balances of a payment service and initiating a second transfer of a value corresponding to the payment amount in the fiat currency from the one or more service balances of the payment service to a second balance of the second user.