Systems and methods for use in redemption of tokens

1 . A computer-implemented method for use in redeeming tokens, the method comprising:

receiving, by a data structure, a one-way transfer of a token from a user computing device of a user to a data structure escrow address at the data structure, whereby the user surrenders possession of the token and the token is held in escrow at the data structure escrow address, wherein the data structure includes an immutable blockchain data structure;

receiving, by a processing network computing device, from a first institution, an authorization request for redemption of the token by the user into a fiat currency, the authorization request including the data structure escrow address, an account number specific to the user, an amount of the redemption, an indicator of the authorization request being for token redemption, and indication of a type of the token being redeemed, wherein the authorization request is consistent with the International Organization for Standardization (ISO) 8583 standard;

in response to recognizing, by the processing network computing device, based on the indicator, the authorization request as being for token redemption:

checking, by the processing network computing device, that the token is included at the data structure escrow address of the data structure;

checking, by the processing network computing device, that a value of the token to be redeemed is consistent with the amount of the redemption;

in response to the data structure escrow address including the token, with the amount of the redemption being consistent with the value of the token to be redeemed:

authorizing, by the processing network computing device, the redemption of the token, whereby the first institution transfers value associated with the token in the fiat currency to the user, based on the account number; and

instructing, by the processing network computing device, a token issuer of the token to burn the token, whereby the token issuer burns the token with the data structure.

2 . The computer-implemented method of claim 1 , wherein the token includes a stablecoin.

3 . The computer-implemented method of claim 1 , further comprising:

receiving, by the processing network computing device, a clearing record for at least the redemption of the token; and

settling, by the processing network computing device, amounts associated with the redemption between the first institution and a second institution associated with a token issuer of the token.

4 . The computer-implemented method of claim 3 , wherein the data structure escrow address is a one-way only address.

5 . The computer-implemented method of claim 1 , wherein the authorization request includes an indication of the token issuer of the token and a token symbol indicative of the type of the token.

6 . A non-transitory computer-readable storage medium comprising executable instructions, which when executed by at least one processor in connection with redeeming a token, cause the at least one processor to:

receive, from a first institution, an authorization request for redemption of a token by a user into a fiat currency, the authorization request including a data structure escrow address at a data structure, an account number specific to the user, an amount of the redemption, an indicator of the authorization request being for token redemption, and indication of a type of the token being redeemed, wherein the authorization request is consistent with the International Organization for Standardization (ISO) 8583 standard, wherein the data structure includes an immutable blockchain data structure;

in response to recognizing, based on the indicator, the authorization request as being for token redemption:

check the token is included at the data structure escrow address of the data structure;

check a value of the token to be redeemed is consistent with the amount of the redemption;

in response to the data structure escrow address including the token, with the amount of the redemption being consistent with the value of the token to be redeemed:

authorize the redemption of the token, whereby the first institution transfers value associated with the token in the fiat currency to the user, based on the account number; and

instruct a token issuer of the token to burn the token, whereby the token issuer burns the token with the data structure.

7 . The non-transitory computer-readable storage medium of claim 6 , wherein the executable instructions, when executed by the at least one processor, further cause the at least one processor to:

receive a clearing record for at least the redemption of the token; and

settle amounts associated with the redemption between the first institution and a second institution associated with a token issuer of the token.

8 . The non-transitory computer-readable storage medium of claim 6 , wherein the authorization request includes an indication of the token issuer of the token and a token symbol for the token; and

wherein the executable instructions, when executed by the at least one processor, further cause the at least one processor to retrieve the data structure escrow address from the authorization request prior to checking the data structure escrow address.

9 . A system for use in redeeming tokens, the system comprising:

a processing network computing device coupled in communication with a computing device, which includes a data structure; and

wherein the computing device is configured to receive a one-way transfer of a token from a user computing device of a user to a data structure escrow address of the data structure, whereby the user surrenders possession of the token and the token is held in escrow at the data structure escrow address, wherein the data structure includes an immutable blockchain data structure; and

wherein the processing network computing device is configured to:

receive, from a first institution, an authorization request for redemption of the token by the user into a fiat currency, the authorization request including the data structure escrow address, an account number specific to the user, an amount of the redemption, an indicator of the authorization request being for token redemption, and indication of a type of the token being redeemed, wherein the authorization request is consistent with the International Organization for Standardization (ISO) 8583 standard;

check that the token is included at the data structure escrow address of the data structure and a value of the token to be redeemed is consistent with the amount of the redemption;

in response to the data structure escrow address including the token, with the amount of the redemption being consistent with the value of the token to be redeemed:

authorize the redemption of the token, whereby the first institution transfers value associated with the token in the fiat currency to the user; and

instructing a token issuer of the token to burn the token, whereby the token issuer burns the token with the data structure.

10 . The system of claim 9 , wherein the data structure escrow address is a one-way only address.

11 . The system of claim 10 , wherein the processing network computing device is further configured to:

receive a clearing record for at least the redemption of the token; and

settle amounts associated with the redemption between the first institution and a second institution associated with a token issuer of the token.