Efficient, accurate, and secure processing of digital asset conversion to fiat currency
US11880826B2 · kind B2 · utility
Assignee
Inventors
- Christopher M. Petersen
- Jeffrey Scott Pittelkau
- Nikolais Linsteadt
- Joseph Arthur Revnes
- Brian Daniel Cooper
- William Matthau
- Yamini Bistesh Sagar
- Nicolas Frederic Cabrera
- Utkarsh Agarwal
- Tim Kuchlein
- Bharath Lakshmanan
- William Andrew Bryant
- Stephen Paul Saucier
- Deepak Kumar
- Anil Jaiswal
- Byungkwon Jeon
- Balaji Devarasetty
Key dates
| Filing date | Jul 16, 2021 |
| Grant date | Jan 23, 2024 |
| Priority date | — |
| Expiry date | Jul 16, 2041 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Various embodiments of the present disclosure are generally directed to processing conversions of digital assets to fiat currency. An example method includes obtaining a conversion rate for a digital asset via an API, providing the conversion rate via a client device, receiving a digital asset conversion request and executing a digital asset conversion within a configurable time period. Executing the digital asset conversion includes causing digital asset units to be debited from the digital asset user account and causing fiat currency units to be credited to a fiat currency user account. The method further includes dynamically providing a notification of execution of the digital asset conversion via the client device, updating account balance data objects associated with the digital asset user account and the fiat currency user account, and subsequent to executing the digital asset conversion, executing a fiat currency transaction (e.g., a settlement) with a digital asset exchange system.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.