# US 12,223,497 B2 · Tokenization platform

> Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt

- Number: US 12,223,497 B2
- Document ID: US12223497B2
- Status: Granted
- Kind: B2
- Application number: 17/520,886
- Filed: 2021-11-08
- Published: 2022-02-24
- Granted: 2025-02-11
- Earliest claimed: 2018-11-02
- Assignees: Verona Holdings Sezc
- Applicants: Verona Holdings Sezc
- Inventors: Jonathan Yantis; William Edward Quigley; Lukasz Jakub Sliwka
- Web page: https://patentgrep.com/patent/US12223497B2

## CPC

- G06Q 20/123: {Shopping for digital content}
- G06F 21/602: {Providing cryptographic facilities or services}
- G06F 21/64: Protecting data integrity, e.g. using checksums, certificates or signatures
- G06Q 20/065: {using e-cash}
- G06Q 20/326: {Payment applications installed on the mobile devices}
- G06Q 20/342: {Cards defining paid or billed services or quantities}
- G06Q 20/3676: {Balancing accounts}
- G06Q 20/38215: {Use of certificates or encrypted proofs of transaction rights}
- G06Q 20/387: {Payment using discounts or coupons (relating to marketing G06Q30/02)}
- G06Q 20/389: {Keeping log of transactions for guaranteeing non-repudiation of a transaction}
- G06Q 20/40: Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
- G06Q 20/4016: {involving fraud or risk level assessment in transaction processing}
- G06Q 20/405: {Establishing or using transaction specific rules}
- G06Q 30/0185: {Product, service or business identity fraud}
- H04L 9/50: {using hash chains, e.g. blockchains or hash trees}
- G06Q 20/1235: {with control of digital rights management [DRM]}
- G06Q 20/3672: {initialising or reloading thereof}
- G06Q 2220/00: Business processing using cryptography
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06F: ELECTRIC DIGITAL DATA PROCESSING (computer systems based on specific computational models G06N)
- H04L: TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION (arrangements common to telegraphic and telephonic communication H04M)

## Abstract

In embodiments, a system for tokenizing incompatible currencies is disclosed. The system includes a currency bridge that receives a request to tokenize an amount of currency for a user, verifies verify that the user has the defined amount of currency and that the currency has been locked in an account such that the user is unable to transfer the defined amount of currency from the account, and in response to verifying that the defined amount of currency has been locked, request generation of an NFT in accordance with a tokenization protocol that represents the locked currency. The system includes a token generation system that generates the NFT and a ledger management system that associates the NFT with an account of the user on a cryptographic ledger that stores NFTs that are defined in accordance with the protocol, thereby allowing the user to transact using the NFT.

## Claims

### Claim 1

A system comprising:
a currency bridging system configured to:
receive a tokenization request to tokenize a defined amount of currency on behalf of a user;
verify that the user has the defined amount of currency and that the defined amount of currency has been locked in an account such that the user is unable to transfer the defined amount of currency from the account;
in response to verifying that the defined amount of currency has been locked, request generation of a non-fungible token that represents the defined amount of currency and that is defined in accordance with a tokenization protocol;
a token generation system configured to generate the non-fungible token in accordance with the tokenization protocol; and
a ledger management system configured to:
write the non-fungible token to a cryptographic ledger that is configured to store digital tokens that are generated in accordance with the tokenization protocol; and
associate the non-fungible token with a user account of the user, wherein the user can participate in transactions using the non-fungible token.

### Claim 2 (depends on 1)

The system of claim 1, wherein the amount of currency tokenized on behalf of the user is fiat currency.

### Claim 3 (depends on 1)

The system of claim 1, wherein the amount of currency tokenized on behalf of the user is a different cryptocurrency defined in accordance with an incompatible tokenization protocol.

### Claim 4 (depends on 3)

The system of claim 3, wherein the currency bridging system is configured to lock the cryptocurrency on a different cryptographic ledger that operates in accordance with the incompatible tokenization protocol.

### Claim 5 (depends on 4)

The system of claim 4, wherein the request is an explicit request provided from a user device associated with the user, wherein the explicit request is a request to tokenize the amount of cryptocurrency into the non-fungible token.

### Claim 6 (depends on 4)

The system of claim 4, wherein the request is an implicit request that is provided to the ledger bridging system in response to the user requesting a transaction in the amount of the cryptocurrency on a platform that does not accept cryptocurrency that is tokenized in accordance with the different tokenization protocol.

### Claim 7 (depends on 1)

The system of claim 1, wherein the currency bridging system is further configured to instantiate an instance of a smart contract corresponding to the non-fungible digital token that defines one or more functionalities that govern the non-fungible digital token.

### Claim 8 (depends on 7)

The system of claim 7, wherein base functionalities of the instance of the smart contract define whether a type of transaction that the non-fungible token can be used in.

### Claim 9 (depends on 7)

The system of claim 7, wherein base functionalities of the instance of the smart contract define a transferability of the non-fungible token.

### Claim 10 (depends on 7)

The system of claim 7, wherein base functionalities of the instance of the smart contract define an expiry of the non-fungible token.

### Claim 11 (depends on 1)

The system of claim 1, wherein the cryptographic ledger is a distributed ledger.

### Claim 12 (depends on 11)

The platform of claim 11, wherein the distributed ledger is a blockchain.

### Claim 13 (depends on 12)

The platform of claim 12, wherein the distributed ledger is a public blockchain.

### Claim 14 (depends on 12)

The platform of claim 12, wherein the distributed ledger is a private blockchain.

### Claim 15 (depends on 1)

The system of claim 1, further comprising a digital marketplace that provides an interface for users to transact for items, the digital marketplace being configured to accept cryptocurrencies that are defined in accordance with the tokenization protocol.

### Claim 16 (depends on 1)

The system of claim 1, wherein the digital marketplace is a token-based marketplace that is configured to facilitate transactions for the items using digital tokens that represent the items.

### Claim 17 (depends on 1)

The system of claim 1, further comprising a token transfer system configured to receive a transaction request to transfer the non-fungible digital token from the user account of the user in response to the user transacting for one or more items that is cryptographically linked to a respective digital token, and, in response to the transaction request, facilitates a transfer of the non-fungible digital token to a seller account of a seller of the one or more items.

### Claim 18 (depends on 1)

The system of claim 1, wherein the currency bridging system is further configured to generate a visual indicium corresponding to the non-fungible token, the visual indicia indicating the amount of currency that is tokenized by the non-fungible token.

### Claim 19 (depends on 17)

The system of claim 17, wherein the visual indicium is used to send the non-fungible token to a recipient via a messaging interface.

### Claim 20 (depends on 1)

The system of claim 1, further comprising a token transfer system configured to receive a transaction request to transfer the non-fungible digital token from an account of the user to a second account of a second user, and, in response to the transaction request, facilitates a transfer of the non-fungible digital token to the second account of the second user.