Systems and methods for implementing a blockchain-based money transfer

A non-transitory computer-readable storage medium storing instructions that, when executed by one or more processors, cause the one or more processors to perform operations for providing blockchain-based money transfer transactions, the operations comprising:

• monitoring a plurality of cryptocurrency exchanges;
• deriving exchange data for each cryptocurrency exchange of the plurality of cryptocurrency exchanges based on the monitoring;
• storing the exchange data derived for each cryptocurrency exchange at a database communicatively coupled to the processor;
• receiving a request to initiate a money transfer transaction between a sending party and a receiving party, wherein the money transfer transaction comprises a send transaction and a receive transaction, and wherein the request includes information that identifies at least the sending party, the receiving party, and a send amount;
• generating a set of parameters for the money transfer transaction based on the information included in the request;
• evaluating the set of parameters and the exchange data against a set of rules to select a first cryptocurrency for executing the money transfer transaction, wherein the first cryptocurrency is available via at least one of the plurality of exchanges;
• receiving funding information that indicates an amount of funds at least equal to the send amount has been received at a money transfer agent location from the sending party;
• subsequent to receiving the funding information, initiating the send transaction based on a quantity of the first cryptocurrency, wherein a value of the quantity of the first cryptocurrency corresponds to the send amount;
• and
• transmitting instructions to the receiving party for completing the receive transaction, wherein the receive transaction is funded using the quantity of the first cryptocurrency.

A system for providing blockchain-based money transfer transactions, the system comprising:

• a central server comprising one or more processors, and a memory coupled to the one or more processors, wherein the one or more processors are configured to:
• monitor a plurality of cryptocurrency exchanges;
• derive exchange data for each cryptocurrency exchange of the plurality of cryptocurrency exchanges based on the monitoring;
• store the exchange data derived for each cryptocurrency exchange at a database communicatively coupled to the processor;
• receive a request to initiate a money transfer transaction between a sending party and a receiving party from an agent device, wherein the money transfer transaction comprises a send transaction and a receive transaction, and wherein the request includes information that identifies at least the sending party, the receiving party, and a send amount;
• generate a set of parameters for the money transfer transaction based on the information included in the request;
• evaluate the set of parameters and the exchange data against a set of rules to select a first cryptocurrency for executing the money transfer transaction, wherein the first cryptocurrency is available via at least one of the plurality of exchanges;
• receive funding information that indicates an amount of funds at least equal to the send amount has been received at a money transfer agent location from the sending party;
• subsequent to receiving the funding information, initiate the send transaction based on a quantity of the first cryptocurrency, wherein a value of the quantity of the first cryptocurrency corresponds to the send amount;
• and
• transmit instructions to the receiving party for completing the receive transaction, wherein the receive transaction is funded using the quantity of the first cryptocurrency.