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US 2022/0188802 A1Published application
Cryptocurrency payment and distribution platform
AssigneeNew York Digital Investment Group LLC
InventorsPatrick SELLS, Steven Schnall
Life of this patent
Estimating the term…
Abstract
In embodiments of the present disclosure, a third-party cryptocurrency payment and distribution platform is provided that may facilitate the orchestration of fiat-to-cryptocurrency and cryptocurrency-to-fiat currency exchanges without necessitating a bank's direct involvement in the cryptocurrency transactions, but rather enables banks and other entities to provide access to cryptocurrency services for their customers through an external entity.
Claims16
1-20. (canceled)
A platform, comprising:
- a first set of orchestration services for orchestrating interactions with a cryptocurrency wallet of a user;
- and
- a second set of orchestration services for orchestrating interactions with a set of interfaces of a bank that maintains a bank account of the user;
- wherein the first and second sets of orchestration services coordinate a set of transaction workflows via the cryptocurrency wallet and the interfaces of the bank whereby upon receipt by the platform of an indicator to use cryptocurrency for a transaction, a user's account holding cryptocurrency is redeemed for an amount of fiat currency required for the transaction and a counterparty to the transaction is paid the amount of fiat currency.
1 more element
A platform, comprising:
- a first set of orchestration services for orchestrating interactions with a cryptocurrency wallet of a user;
- and
- a second set of orchestration services for orchestrating interactions with a set of interfaces of a bank that maintains a bank account of the user;
- wherein the first and second sets of orchestration services coordinate a set of transaction workflows via the cryptocurrency wallet and the interfaces of the bank whereby upon receipt by the platform of an indicator to use cryptocurrency as collateral for a transaction, a user's account holding cryptocurrency used as collateral for borrowing an amount of fiat currency required for the transaction and a counterparty to the transaction is paid the amount of fiat currency.
1 more element
Dependencies are inferred from the claim text.