Infrastructure for maintaining math-based currency accounts
AssigneeWells Fargo Bank, N.A.
InventorAshish B. Kurani
Life of this patent
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Abstract
A banking system of a financial institution maintains a plurality of customer accounts in math-based currency (“MBC”). The system includes a network interface configured to facilitate data transmission over a network. The system includes a ledger including information relating to the plurality of customer accounts associated with a plurality of customers. The system includes a processor configured to update information contained in the ledger relating to the plurality of customer accounts based on the occurrences of MBC transactions involving the plurality of customers.
Claims20
A method performed by one or more processors, the method comprising:
- receiving a withdrawal request from a math based currency (MBC) account holder, the withdrawal request comprising a cryptocurrency withdrawal amount;
- exchanging the cryptocurrency withdrawal amount of a different currency type of the MBC account holder;
- providing the cryptocurrency withdrawal amount in the different currency type to the MBC account holder;
- creating a public and private key pair associated with an amount of cryptocurrency equivalent to a difference between the cryptocurrency withdrawal amount and a cryptocurrency account amount;
- and
- transferring additional cryptocurrency into a pooled account database in response to determining a pooled account database amount is below a threshold cryptocurrency amount.
A system, comprising:
- at least one processing circuit configured to:
- receive a withdrawal request from a math based currency (MBC) account holder, the withdrawal request comprising a cryptocurrency withdrawal amount;
- exchange the cryptocurrency withdrawal amount of a different currency type of the MBC account holder;
- provide the cryptocurrency withdrawal amount in the different currency type to the MBC account holder;
- create a public and private key pair associated with an amount of cryptocurrency equivalent to a difference between the cryptocurrency withdrawal amount and a cryptocurrency account amount;
- and
- transfer additional cryptocurrency into a pooled account database in response to determining a pooled account database amount is below a threshold cryptocurrency amount.
At least one non-transitory processor-readable medium comprising processor-readable instructions, such that when executed by at least one processing circuit, causes the processing circuit to:
- receive a withdrawal request from a math based currency (MBC) account holder, the withdrawal request comprising a cryptocurrency withdrawal amount;
- exchange the cryptocurrency withdrawal amount of a different currency type of the MBC account holder;
- provide the cryptocurrency withdrawal amount in the different currency type to the MBC account holder;
- create a public and private key pair associated with an amount of cryptocurrency equivalent to a difference between the cryptocurrency withdrawal amount and a cryptocurrency account amount;
- and
- transfer additional cryptocurrency into a pooled account database in response to determining a pooled account database amount is below a threshold cryptocurrency amount.
Dependencies are inferred from the claim text.