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US 12,737,809 B2Granted
Cryptocurrency-cash gateway
OwnerJoachim Paul Walserinventor
Life of this patent
Estimating the term…
Abstract
The present invention concerns a cryptocurrency-cash gateway, comprising a wallet interface for communicating over a network with at least one crypto wallet and an EFT gateway interface (404) for communicating over a network with at least one electronic funds transfer (EFT) gateway or financial institution, wherein the cryptocurrency-cash gateway is operable to perform a cryptocurrency-to-cash transaction for allowing a user to withdraw cash at an automated transaction machine (ATM) or a point-of-sale (POS) system by exchanging a corresponding amount of a cryptocurrency from the crypto wallet(s); or conversely allowing the user to deposit cash at an ATM or POS system and exchanging it for a corresponding amount of a cryptocurrency to be deposited in at least one crypto wallet of the user.
Claims18
A cash-cryptocurrency gateway, comprising:
- a computing device comprising a processor and a memory;
- a wallet application programming interface (wallet API) executing on the computing device and communicating over a network with a crypto wallet app of a crypto wallet provider, wherein the crypto wallet app provides access to a crypto wallet engine and public and private keys of a user to access cryptocurrency funds;
- and
- an electronic funds transfer gateway API (EFT gateway API) executing on the computing device and communicating over the network with an EFT gateway or financial institution;
- and
- wherein the computing device is configured to:
- perform, via the wallet API and EFT gateway API, a cash-to-cryptocurrency transaction using the crypto wallet app, a crypto exchange service, and the EFT gateway or financial institution to deposit fiat currency at an automated teller machine (ATM) or a point-of-sale (POS) system with a pre-staging of the cash-to-cryptocurrency transaction, wherein performing the cash-to-cryptocurrency transaction with the pre-staging comprises:
- receiving, via the wallet API and from the crypto wallet app on a user computing device used by the user, an indication of a fiat currency amount for deposit by the user via the ATM or POS system and a cryptocurrency transaction to deposit user cryptocurrency funds in a crypto wallet of the user associated with the crypto wallet app;
- transmitting, in response to receiving the indication of the fiat currency amount for deposit, the cryptocurrency transaction to the crypto exchange service or to at least one blockchain node for exchange conversion of the fiat currency amount to the user cryptocurrency funds;
- transmitting, in response to deposit of the fiat currency amount at the ATM or POS system by the user, a notification that the deposit has occurred via the EFT gateway API to the EFT gateway or financial institution thereby causing the EFT gateway or financial institution to deposit the fiat currency or an equivalent stablecoin amount in an intermediate account;
- transmitting, via the EFT gateway API, the notification to the crypto exchange service;
- receiving, from the crypto exchange service, in response to receiving the notification, a transfer indication that the exchange conversion of the fiat currency or stablecoin amount to the user cryptocurrency funds has occurred;
- wherein identifying the user for the deposit through a financial-transaction code or token issued during the pre-staging comprises, after receiving the indication of the fiat currency or stablecoin amount for deposit:
- generating the financial-transaction code or token for the deposit of the fiat currency amount at the ATM or POS system;
- transmitting, to an ATM or POS system server, the financial-transaction code or token;
- and
- transmitting, to the user computing device via the wallet API, the financial-transaction code or token to signal the user that the fiat currency amount is ready for the deposit at the ATM or POS system.
14 more elements
A method of operating a cash-cryptocurrency gateway, the method comprising:
- communicating, by a computing device of the cryptocurrency-cash gateway over a network, with a crypto wallet app of a crypto wallet provider via a wallet application programing interface (wallet API) operated by the computing device, wherein the crypto wallet app provides access to a crypto wallet engine and public and private keys of a user to access cryptocurrency funds;
- communicating, by the computing device, over the network via an electronic funds transfer gateway API (EFT gateway API) executing on the computing device and communicating over the network with an EFT gateway or financial institution;
- performing, by the computing device via the wallet API and the EFT gateway API, a cash-to-cryptocurrency transaction using the crypto wallet app, a crypto exchange service, and the EFT gateway or financial institution to deposit fiat currency cash at an automated teller machine (ATM) or a point-of sale (POS) system with a pre-staging of the cash-to-cryptocurrency transaction, wherein performing the cash-to-cryptocurrency transaction with the pre-staging comprises:
- receiving, via the wallet API and from the crypto wallet app on a user computing device used by the user, an indication of a fiat currency amount for deposit by the user via the ATM or POS system and a cryptocurrency transaction to deposit user cryptocurrency funds in a crypto wallet of the user associated with the crypto wallet app;
- transmitting, in response to receiving the indication of the fiat currency amount for deposit, the cryptocurrency transaction to the crypto exchange service or to at least one blockchain node for exchange conversion of the fiat currency or an equivalent stablecoin amount to the user cryptocurrency funds;
- transmitting, in response to deposit of the fiat currency or stablecoin amount at the ATM or POS system by the user, a notification that the deposit has occurred via the EFT gateway API to the EFT gateway or financial institution thereby causing the EFT gateway or financial institution to deposit the fiat currency or stablecoin amount in an intermediate account;
- transmitting, via the EFT gateway API, the notification to the crypto exchange service;
- receiving, from the crypto exchange service, in response to receiving the notification, a transfer indication that the exchange conversion of the fiat currency or stablecoin amount to the user cryptocurrency funds has occurred;
- and
- identifying the user for the deposit through a financial-transaction code or token issued during the pre-staging, wherein identifying the user comprises, after receiving the indication of the fiat currency amount for deposit:
- generating the financial-transaction code or token for the deposit of the fiat currency amount at the ATM or POS system;
- transmitting, to an ATM or POS system server, the financial-transaction code or token;
- and
- transmitting, to the user computing device via the wallet API, the financial-transaction code or token to signal the user that the fiat currency amount is ready for the deposit at the ATM or POS system.
11 more elements
A cryptocurrency-cash gateway, comprising:
- a computing device comprising a processor and a memory;
- a wallet application programming interface (wallet API) executing on the computing device and communicating over a network with a crypto wallet app of a crypto wallet provider, wherein the crypto wallet app provides access to a crypto wallet engine and public and private keys of a user to access cryptocurrency funds;
- and
- an electronic funds transfer gateway API (EFT gateway API) executing on the computing device and communicating over the network with an EFT gateway or financial institution;
- and
- wherein the computing device is configured to:
- perform, via the wallet API and EFT gateway API, a cryptocurrency-to-cash transaction using the crypto wallet app, a crypto exchange service, and the EFT gateway or financial institution to withdraw fiat currency cash at an automated teller machine (ATM) or a point-of-sale (POS) system with a pre-staging of the cryptocurrency-to-cash transaction, wherein performing the cryptocurrency-to-cash transaction with the pre-staging comprises:
- receiving, via the wallet API and from the crypto wallet app on a user computing device used by the user, an indication of a fiat currency amount for withdrawal by the user via the ATM or POS system and a cryptocurrency transaction, wherein receiving the indication comprises checking that available balance from conversion of user cryptocurrency funds associated with the cryptocurrency transaction to the fiat currency amount is sufficient;
- transmitting, in response to receiving the indication of the fiat currency amount for withdrawal, the cryptocurrency transaction to the crypto exchange service or to at least one blockchain node for exchange conversion of the user cryptocurrency funds to the fiat currency or an equivalent stablecoin amount;
- receiving, from the crypto exchange service, in response to transmitting the cryptocurrency transaction, a transfer indication that the exchange conversion of the user cryptocurrency funds to the fiat currency or stablecoin amount has occurred;
- transmitting, in response to receiving the transfer indication, the transfer indication via the EFT gateway API to the EFT gateway or financial institution thereby causing the EFT gateway or financial institution to deposit the fiat currency or stablecoin amount in an intermediate account;
- receiving, from the EFT gateway or financial institution, a notification that the fiat currency or stablecoin amount has been deposited in the intermediate account;
- after receiving from the EFT gateway or financial institution the notification that the fiat currency or stablecoin amount has been deposited in the intermediate account, generating a financial-transaction code or token for the withdrawal of the fiat currency amount at the ATM or POS system;
- and
- transmitting, to an ATM or POS system server, the financial-transaction code or token;
- transmitting, to the user computing device via the wallet API, the financial-transaction code or token to signal the user that the fiat currency amount is ready for the withdrawal at the ATM or POS system;
- wherein the financial-transaction code or token is displayed on the user computing device to withdraw the fiat currency amount at the ATM or POS system to receive the fiat currency amount being dispensed by the ATM or POS system.
14 more elements
Dependencies are inferred from the claim text.