The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jan. 31, 2023
Filed:
Sep. 21, 2016
Wells Fargo Bank, N.a., San Francisco, CA (US);
Naga Adapala, Pleasanton, CA (US);
Kevin D. Bouey, San Anselmo, CA (US);
Judd Holroyde, Mill Valley, CA (US);
Aravind Krishnasamy, San Ramon, CA (US);
Bipin M. Sahni, Pleasanton, CA (US);
Nishant Usapkar, San Ramon, CA (US);
Wells Fargo Bank, N.A., San Francisco, CA (US);
Abstract
A method, system, and apparatus for performing a transaction for a customer having a fiat account with a financial institution. The method includes receiving a transaction request from the customer, the transaction request including a request to transfer a first amount of fiat currency to a receiving account held at a partner financial institution; determining a second amount of math-based currency ('MBC') corresponding to the first amount of fiat currency, wherein the MBC is held in an MBC wallet account; transmitting the second amount of MBC to a partner financial institution computing system of the partner financial institution via a permissioned blockchain system; updating the MBC wallet account to reflect the transaction; debiting a fiat account balance associated with the fiat account of the customer by the first amount; and transferring fiat currency between the financial institution and the partner financial institution to settle a plurality of transactions.