US 2023/0017364 A1 · METHOD FOR VIRTUAL ASSET TRANSMISSION

Abstract

Disclosed is a method for use in a virtual asset transmission from a sender having a sending account at a sending virtual asset service provider (sending VASP) to a recipient having a receiving account at a receiving virtual asset service provider (receiving VASP). The method involves sending, to the receiving VASP, a first request for verifying the receiving account of the recipient at the receiving VASP; receiving, from the receiving VASP, a verification result confirming that the receiving account of the recipient at the receiving VASP is valid; subsequently receiving, from the sending VASP, a second request for verifying a blockchain record for a transmission of a virtual asset from the sender to the recipient; upon receipt of the second request, determining if the transmission has been recorded on a blockchain network; and upon determining that the transmission has been recorded on the blockchain network, sending, to the receiving VASP, a third request to update the receiving account of the recipient at the receiving VASP about the transmission of the virtual asset from the sender to the recipient.

Claims24

Dependent claims

A method for use in a virtual asset transmission from a sender having a sending account at a sending virtual asset service provider (sending VASP) to a recipient having a receiving account at a receiving virtual asset service provider (receiving VASP), the method comprising:

sending, by a verification node to the receiving VASP, a first request for verifying the receiving account of the recipient at the receiving VASP;
receiving, by the verification node from the receiving VASP, a verification result confirming that the receiving account of the recipient at the receiving VASP is valid;
subsequently receiving, by the verification node from the sending VASP, a second request for verifying a blockchain record for a transmission of a virtual asset from the sender to the recipient;
upon receipt of the second request for verifying a blockchain record, determining, by the verification node, if the transmission has been recorded on a blockchain network;
and
upon determining that the transmission has been recorded on the blockchain network, sending, by the verification node to the receiving VASP, a third request to update the receiving account of the recipient at the receiving VASP about the transmission of the virtual asset from the sender to the recipient,
wherein the verification node does not belong to either the sending VASP or the receiving VASP.

4 more elements

A method for use in a virtual asset transmission from a sender to a recipient, the method comprising:

receiving, by a verification node, information about a receiving account of the recipient at a receiving virtual asset service provider (VASP) and a unique identifier assigned to a then-future transaction for a transmission of a virtual asset from the sender to the recipient;
sending, by the verification node to the receiving VASP, a first request for verifying the information about the receiving account;
receiving, by the verification node from the receiving VASP, a verification result confirming that the information about the receiving account is valid;
subsequently communicating with a blockchain network, by the verification node, to determine if the transmission has been recorded on the blockchain network using the unique identifier assigned to the transmission;
and
upon determining that the transmission has been recorded on the blockchain network, sending, by the verification node to the receiving VASP, a second request to update the receiving account about the transmission of the virtual asset from the sender to the recipient,
wherein the verification node does not belong to either the receiving VASP or a sending virtual asset service provider (VASP) at which the sender maintains a sending account.

4 more elements

Dependencies are inferred from the claim text.

Method for virtual asset transmission

Life of this patent

Method for virtual asset transmission

Life of this patent

Abstract

Claims24