# US 2023/0274264 A1 · Systems and methods for token-based cross-currency interoperability

> Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt

- Number: US 2023/0274264 A1
- Document ID: US20230274264A1
- Status: Published application
- Kind: A1
- Application number: 18/314,541
- Filed: 2023-05-09
- Published: 2023-08-31
- Earliest claimed: 2018-08-31
- Assignees: JPMorgan Chase Bank, N.A.
- Applicants: Jpmorgan Chase Bank, N.A.
- Inventors: John Corwin HUNTER; Umar FAROOQ; Tiffany Ashley WAN; Naveen MALLELA; Christine MOY; Tyrone LOBBAN; Oliver HARRIS; Palka S. PATEL
- Web page: https://patentgrep.com/patent/US20230274264A1

## CPC

- G06Q 20/381: {Currency conversion}
- G06Q 20/10: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
- G06Q 20/108: {Remote banking, e.g. home banking}
- G06Q 20/367: {involving electronic purses or money safes}
- G06Q 20/3676: {Balancing accounts}
- G06Q 20/389: {Keeping log of transactions for guaranteeing non-repudiation of a transaction}
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

Systems and methods for token-based cross-currency interoperability are disclosed. In one embodiment, in a first financial institution information processing apparatus comprising at least one computer processor, a method for conducting a token-based cross-currency transaction may include: (1) receiving, from a first party, a transaction initiation request for a transaction amount to a second party; (2) deducting the transaction amount from a fiat currency account for the first party; (3) creating a token amount of tokens for the transaction amount; (4) writing the token amount to a distributed ledger; and (5) transferring the token amount of tokens to a second financial institution for the second party.

## Claims

### Claim at position 1

1-16. (canceled)

### Claim 17

A computer-based method for conducting a token-based cross-currency transaction comprising:
receiving, by a first computer program executed by a first financial institution information processing apparatus comprising at least one computer processor and from a first party, a transaction initiation request for sending an amount of a first fiat currency to a second party, the second party receiving an equivalent of the amount in a second fiat currency, wherein the first fiat currency and the second fiat currency are different currencies, wherein the first financial institution participates as a first node of a plurality of nodes in a distributed ledger network;
deducting, by the first computer program, the amount of the first fiat currency from a first account for the first party, the first fiat currency account being in the first fiat currency;
converting, by the first computer program, the amount of the first fiat currency into a third fiat currency, the third fiat currency being different from the first fiat currency and the second fiat currency;
creating, by the first computer program, an amount of tokens for the amount of the third fiat currency and writing the tokens to a first financial institution copy of a distributed ledger in the distributed ledger network, wherein the distributed ledger is cryptographically-verifiable and immutable;
receiving, by a second computer program for a second financial institution, the tokens from a second financial institution copy of the distributed ledger, wherein the second financial institution participates as a second node of the plurality of nodes in the distributed ledger network;
converting, by the second computer program, the tokens to the second fiat currency, wherein the tokens are destroyed as a result of the converting;
wherein a change on first financial institution copy of the distributed ledger or the second financial institution copy of the distributed ledger are reflected on the other copies of the distributed ledger.

### Claim 18 (depends on 17)

The method of claim 17, wherein the fiat currency account comprises a line of credit.

### Claim 19

A computer-based system for conducting a token-based cross-currency transaction, comprising:
a first financial institution information processing apparatus for a first financial institution comprising at least one computer processor and executing a first computer program;
a second financial institution information processing apparatus for a second financial institution comprising at least one computer processor and executing a second computer program; and
a distributed ledger network, wherein the first computer program and the second computer program are in communication with the distributed ledger network and the first financial institution participates as a first node in the distributed ledger network and the second financial institution participates as a second node in the distributed ledger network;
wherein:
the first computer program executed receives, from a first party, a transaction initiation request for sending an amount of a first fiat currency to a second party, the second party receiving an equivalent of the amount in a second fiat currency, wherein the first fiat currency and the second fiat currency are different currencies;
the first computer program deducts the amount of the first fiat currency from a first account for the first party, the first fiat currency account being in the first fiat currency;
the first computer program converts the amount of the first fiat currency into a third fiat currency, the third fiat currency being different from the first fiat currency and the second fiat currency;
the first computer program creates an amount of tokens for the amount of the third fiat currency and writing the tokens to a first financial institution copy of a distributed ledger in the distributed ledger network, wherein the distributed ledger is cryptographically-verifiable and immutable;
the second computer program receives the tokens from a second financial institution copy of the distributed ledger; and
the second computer program converts the tokens to the second fiat currency, wherein the tokens are destroyed as a result of the converting;
wherein a change on first financial institution copy of the distributed ledger or the second financial institution copy of the distributed ledger are reflected on the other copies of the distributed ledger.

### Claim 20 (depends on 19)

The system of claim 19, wherein the first account comprises a line of credit account for the first party.

### Claim 21 (depends on 19)

The system of claim 19, wherein the first financial institution and the second financial institution are the same.

### Claim 22

A non-transitory computer readable storage medium, including instructions stored thereon, which when read and executed by one or more computer processors, cause the one or more computer processors to perform steps comprising:
receiving, from a first party in a distributed ledger network, a transaction initiation request for sending an amount of a first fiat currency to a second party, the second party receiving an equivalent of the amount in a second fiat currency, wherein the first fiat currency and the second fiat currency are different currencies, wherein the first financial institution participates as a first node of a plurality of nodes in a distributed ledger network;
deducting the amount of the first fiat currency from a first account for the first party, the first fiat currency account being in the first fiat currency;
converting the amount of the first fiat currency into a third fiat currency, the third fiat currency being different from the first fiat currency and the second fiat currency;
creating an amount of tokens for the amount of the third fiat currency and writing the tokens to a first financial institution copy of a distributed ledger in the distributed ledger network, wherein the distributed ledger is cryptographically-verifiable and immutable;
receiving the tokens from a second financial institution copy of the distributed ledger, wherein the second financial institution participates as a second node of the plurality of nodes in the distributed ledger network; and
converting the tokens to the second fiat currency, wherein the tokens are destroyed as a result of the converting;
wherein a change on first financial institution copy of the distributed ledger or the second financial institution copy of the distributed ledger are reflected on the other copies of the distributed ledger.

### Claim 23 (depends on 22)

The non-transitory computer readable storage medium of claim 22, wherein the first account comprises a line of credit account.