US 2022/0188812 A1Published application

Efficient, accurate, and secure processing of digital asset conversion to fiat currency

AssigneeBakkt Marketplace, LLC

InventorsChristopher Michael Petersen, Jeffrey Scott Pittelkau, Nikolais Linsteadt, Joseph Arthur Revnes, Brian Daniel Cooper, William Matthau, Yamini Bistesh Sagar, Nicolas Frederic Cabrera, Utkarsh Agarwal, Tim Kuchlein, Bharath Lakshmanan, William Andrew Bryant, Stephen Paul Saucier, Deepak Kumar, Anil Jaiswal, Byungkwon Jeon, Balaji Devarasetty

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Abstract

Various embodiments of the present disclosure are generally directed to processing conversions of digital assets to fiat currency. An example method includes obtaining a conversion rate for a digital asset via an API, providing the conversion rate via a client device, receiving a digital asset conversion request and executing a digital asset conversion within a configurable time period. Executing the digital asset conversion includes causing digital asset units to be debited from the digital asset user account and causing fiat currency units to be credited to a fiat currency user account. The method further includes dynamically providing a notification of execution of the digital asset conversion via the client device, updating account balance data objects associated with the digital asset user account and the fiat currency user account, and subsequent to executing the digital asset conversion, executing a fiat currency transaction (e.g., a settlement) with a digital asset exchange system.

Claims20

Dependent claims

A computer-implemented method comprising:

generating and transmitting a first conversion rate application programming interface (API) request, wherein (i) the first conversion rate API request is associated with a first digital asset conversion request at a first timepoint and a digital asset user account identifiable by an identifier token associated with an end user, (ii) the first conversion rate API request comprises a conversion behavior analytics data object, (iii) the first conversion rate API request indicates a digital asset associated with the first digital asset conversion request, and (iv) the first digital asset conversion request indicates a first number of digital asset units;
receiving a first conversion rate API response comprising a first conversion rate for the digital asset and a fiat currency;
providing the first conversion rate for display via a client device;
responsive to determining that a first configurable time period has elapsed:
generating and transmitting a second conversion rate API request, wherein the second conversion rate API request indicates the digital asset,
receiving a second current pricing data API response comprising a second conversion rate for the digital asset and the fiat currency, and
providing the second conversion rate for display via the client device;
receiving a second digital asset conversion request, wherein the second digital asset conversion request (i) is at a second timepoint, (ii) is associated with the digital asset user account identifiable by the identifier token associated with the end user, and (iii) indicates a second number of digital asset units;
executing a digital asset conversion for the second digital asset conversion request within a second configurable time period, wherein executing the digital asset conversion comprises causing the second number of digital asset units to be debited from the digital asset user account and causing a second number of fiat currency units to be transferred to a fiat currency user account originating from a fiat currency central operating account;
dynamically providing a notification of execution of the digital asset conversion via the client device;
updating a first account balance data object associated with the digital asset user account and a second account balance data object associated with the fiat currency user account based at least in part on the digital asset conversion;
and
subsequent to executing the digital asset conversion, executing a fiat currency transaction with a digital asset exchange system.

10 more elements

A system comprising one or more memory storage areas and one or more processors, the system configured for:

generating and transmitting a first conversion rate application programming interface (API) request, wherein (i) the first conversion rate API request is associated with a first digital asset conversion request at a first timepoint and a digital asset user account identifiable by an identifier token associated with an end user, (ii) the first conversion rate API request comprises a conversion behavior analytics data object, (iii) the first conversion rate API request indicates a digital asset associated with the first digital asset conversion request, and (iv) the first digital asset conversion request indicates a first number of digital asset units;
receiving a first conversion rate API response comprising a first conversion rate for the digital asset and a fiat currency;
providing the first conversion rate for display via a client device;
responsive to determining that a first configurable time period has elapsed:
generating and transmitting a second conversion rate API request, wherein the second conversion rate API request indicates the digital asset,
receiving a second current pricing data API response comprising a second conversion rate for the digital asset and the fiat currency, and
providing the second conversion rate for display via the client device;
receiving a second digital asset conversion request, wherein the second digital asset conversion request (i) is at a second timepoint, (ii) is associated with the digital asset user account identifiable by the identifier token associated with the end user, and (iii) indicates a second number of digital asset units;
executing a digital asset conversion for the second digital asset conversion request within a second configurable time period, wherein executing the digital asset conversion comprises causing the second number of digital asset units to be debited from the digital asset user account and causing a second number of fiat currency units to be transferred to a fiat currency user account originating from a fiat currency central operating account;
dynamically providing a notification of execution of the digital asset conversion via the client device;
updating a first account balance data object associated with the digital asset user account and a second account balance data object associated with the fiat currency user account based at least in part on the digital asset conversion;
and
subsequent to executing the digital asset conversion, executing a fiat currency transaction with a digital asset exchange system.

10 more elements

A computer program product comprising at least one non-transitory computer-readable storage medium having computer-readable program code portions stored therein, the computer-readable program code portions comprising executable portions configured for:

generating and transmitting a first conversion rate application programming interface (API) request, wherein (i) the first conversion rate API request is associated with a first digital asset conversion request at a first timepoint and a digital asset user account identifiable by an identifier token associated with an end user, (ii) the first conversion rate API request comprises a conversion behavior analytics data object, (iii) the first conversion rate API request indicates a digital asset associated with the first digital asset conversion request, and (iv) the first digital asset conversion request indicates a first number of digital asset units;
receiving a first conversion rate API response comprising a first conversion rate for the digital asset and a fiat currency;
providing the first conversion rate for display via a client device;
responsive to determining that a first configurable time period has elapsed:
generating and transmitting a second conversion rate API request, wherein the second conversion rate API request indicates the digital asset,
receiving a second current pricing data API response comprising a second conversion rate for the digital asset and the fiat currency, and
providing the second conversion rate for display via the client device;
receiving a second digital asset conversion request, wherein the second digital asset conversion request (i) is at a second timepoint, (ii) is associated with the digital asset user account identifiable by the identifier token associated with the end user, and (iii) indicates a second number of digital asset units;
executing a digital asset conversion for the second digital asset conversion request within a second configurable time period, wherein executing the digital asset conversion comprises causing the second number of digital asset units to be debited from the digital asset user account and causing a second number of fiat currency units to be transferred to a fiat currency user account originating from a fiat currency central operating account;
dynamically providing a notification of execution of the digital asset conversion via the client device;
updating a first account balance data object associated with the digital asset user account and a second account balance data object associated with the fiat currency user account based at least in part on the digital asset conversion;
and
subsequent to executing the digital asset conversion, executing a fiat currency transaction with a digital asset exchange system.

10 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/378,250Filed 16 Jul 2021
Priority: 16 Dec 2020
Published: 16 Jun 2022
Term ends: Not estimatedThe source records don’t support an estimate.

Classification10 codes

G06Q 20/381
Payment protocols; Details thereof: currency conversion
G06Q 20/02
Payment architectures, schemes or protocols: involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
G06Q 20/0655
Using e-cash: e-cash managed centrally
G06Q 20/10
Payment architectures: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems