Efficient, accurate, and secure processing of conversions between digital assets

US12033140B2 · kind B2 · utility

Assignee

• BAKKT MARKETPLACE, LLC · US

Inventors

• Christopher M. Petersen · New Canaan, US
• Jeffrey Scott Pittelkau · Montgomery, US
• Nikolais Linsteadt · Applegate, US
• Joseph Arthur Revnes · Atlanta, US
• Brian Daniel Cooper · Marietta, US
• William Matthau · Laguna Niguel, US
• Yamini Bistesh Sagar · Alpharetta, US
• Nicolas Frederic Cabrera · Atlanta, US
• Utkarsh Agarwal · Tucson, US
• Tim Kuchlein · Lakeway, US
• Bharath Lakshmanan · San Ramon, US
• William Andrew Bryant · Alpharetta, US
• Stephen Paul Saucier · Atlanta, US
• Deepak Kumar · Kirkland, US
• Anil Jaiswal · Marietta, US
• Byungkwon Jeon · Seoul, KR
• Balaji Devarasetty · Atlanta, US

Key dates

• Filing date: Jul 15, 2021
• Grant date: Jul 9, 2024
• Expiry date: Sep 24, 2041

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q2220/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Various embodiments are directed to processing conversions of digital assets to other digital assets. An example method includes determining a source exchange rate for a source digital asset and a fiat currency, determining a target exchange rate for a target digital asset and a fiat currency, and generating an aggregated conversion rate for the source digital asset and the target digital asset using the source exchange rate and the target exchange rate. The method further includes executing a digital asset conversion, which includes causing source digital asset units to be debited from a source digital asset user account and causing target digital asset units to be credited to a target digital asset user account, and subsequently executing fiat currency transactions (e.g., settlements) with a first digital asset exchange system associated with the source digital asset and a second digital asset exchange system associated with the target digital asset.