Granted Patent B2

US 12,380,413 · App. 17/962,097 · Granted Aug 5, 2025

Inventors: Karim Talal Hamasni (Toronto, CA); Stefan Mueller (Singapore, SG); Atilla Murat Firat (Toronto, CA); Matthew Thomas Peskett (Toronto, CA)

Assignee: ROYAL BANK OF CANADA

G06Q20/0658G06Q20/065G06Q20/3678G06Q20/381G06Q20/3829G06Q20/389G06Q20/401H04L9/0894G06Q2220/00H04L9/50H04L2209/56

Abstract

Claims (51)

1. A system comprising:

at least one memory for storing a customer account; and

at least one processor communicably coupled to the at least one memory, the at least one memory including executable instructions which when executed by the at least one processor, configure the system for:

receiving an electronic request to instantiate a composite crypto-asset data structure including a reference data payload that maintains one or more pre-calculated products based on a plurality of different quantity sizes that is populated as new product operations are conducted, the composite crypto-asset data structure corresponding to a plurality of types of crypto-assets and their respective quantities the composite crypto-asset data structure including a set of logical conditions stored on a publicly accessible blockchain distributed ledger network, which when triggered as one or more monitored conditions are satisfied, cause state transitions of the composite crypto-asset data structure from states that include at least a minting state, a transaction state, a redemption state, and a burn state;

the request initializing a token minting procedure where an internal database ledger system accounts for on-chain composite crypto-asset data structure units coinciding with a size of the electronic request;

storing cryptographic keys corresponding to the respective quantities of the plurality of types of crypto-assets in an escrow vault;

updating a balance of the composite crypto-asset data structure associated with the customer account based on a quantity associated with the electronic request; and

periodically executing a validation function for reconciling total crypto-assets in the escrow vault against all outstanding composite crypto-asset data structures by:

conducting a block-traversal of all outstanding composite crypto-asset data structures,

utilizing the reference data payload to determine an amount of crypto-assets of a particular type, where a quantity indicated in the corresponding composite crypto-asset data structure has already been pre-calculated, and

conducting a calculation of the amount of crypto-assets of a particular type only when the quantity indicated in the corresponding composite crypto-asset data structure has not been pre-calculated.

2. The system of claim 1 , wherein the at least one memory stores a periodically updated whitelist data structure, and wherein the composite crypto-asset data structure is instantiated responsive to receiving the electronic request, the composite crypto-asset data structure storing a data payload including a cryptographic address representing a current owner of the composite crypto-asset, and wherein upon instantiation the cryptographic address is added to the whitelist data structure;

the system comprising a data message interface configured for:

communicating one or more data messages with one or more external compliance validation systems, the one or more data messages including at least instructions for periodically updating the whitelist data structure.

3. The system of claim 2 , wherein when executed, the executable instructions configure the system for:

receiving a transfer request to transfer a second quantity of the composite crypto-asset data structure associated with the customer account to a destination blockchain address and transition the composite crypto-asset data structure to the transaction state;

updating the balance of the composite crypto-asset data structure associated with the customer account based on the second quantity of the composite crypto-asset data structure to be transferred; and

triggering generation of a crypto-asset token corresponding to the second quantity of the of the composite crypto-asset data structure to be transferred, and transfer of the crypto-asset token to the destination blockchain address stored on the data payload of the composite crypto-asset data structure.

4. The system of claim 2 , wherein when executed, the executable instructions configure the system for:

receiving a decompose request from the cryptographic address representing the current owner of the composite crypto-asset to decompose a second quantity of the composite crypto-asset data structure associated with the customer account and transitioning the composite crypto-asset data structure to the redemption state;

updating the balance of the composite crypto-asset data structure associated with the customer account based on the second quantity of the composite crypto-asset data structure to be transferred;

determining whether the cryptographic address exists on the periodically updated whitelist data structure; and

if the cryptographic address exists on the periodically updated whitelist data structure, using the cryptographic keys corresponding to the plurality of types of crypto-assets in an escrow vault, transferring quantities of the plurality of types of crypto-assets, corresponding to the second quantity, from addresses associated with the escrow account to addresses associated with the customer account and transitioning the composite crypto-asset data structure to the burn state.

5. The system of claim 1 , wherein when executed, the executable instructions configure the system for:

receiving a sell request to sell a second quantity of the composite crypto-asset data structure associated with the customer account;

updating the balance of the composite crypto-asset data structure associated with the customer account based on the second quantity of the composite crypto-asset data structure to be transferred;

using the cryptographic keys corresponding to the plurality of types of crypto-assets in an escrow vault, transferring quantities of the plurality of types of crypto-assets, corresponding to the second quantity of the composite crypto-asset data structure, from addresses associated with the escrow account to addresses associated with a crypto-asset exchange; and

updating a fiat balance associated with the customer account based on fiat amounts received from transferring the quantities of the plurality of types of crypto-assets.

6. A method for processing composite cryptographic transactions, the method comprising:

receiving an electronic request to instantiate a composite crypto-asset data structure including a reference data payload that maintains one or more pre-calculated products based on a plurality of different quantity sizes that is populated as new product operations are conducted, the composite crypto-asset data structure corresponding to a plurality of types of crypto-assets and their respective quantities the composite crypto-asset data structure including a set of logical conditions stored on a publicly accessible blockchain distributed ledger network, which when triggered as one or more monitored conditions are satisfied, cause state transitions of the composite crypto-asset data structure from states that include at least a minting state, a transaction state, a redemption state, and a burn state;

initializing, responsive to the request, a token minting procedure where an internal database ledger system accounts for on-chain composite crypto-asset data structure units coinciding with a size of the electronic request;

storing cryptographic keys corresponding to the respective quantities of the plurality of types of crypto-assets in an escrow vault;

updating a balance of the composite crypto-asset data structure associated with the customer account based on a quantity associated with the electronic request; and

periodically executing a validation function for reconciling total crypto-assets in the escrow vault against all outstanding composite crypto-asset data structures by:

conducting a block-traversal of all outstanding composite crypto-asset data structures,

utilizing the reference data payload to determine an amount of crypto-assets of a particular type, where a quantity indicated in the corresponding composite crypto-asset data structure has already been pre-calculated, and

conducting a calculation of the amount of crypto-assets of a particular type only when the quantity indicated in the corresponding composite crypto-asset data structure has not been pre-calculated.

7. The method of claim 6 , wherein the crypto-asset data structure includes a smart contract data object that stores a periodically updated whitelist data structure, and wherein the composite crypto-asset data structure is instantiated responsive to receiving the electronic request, the composite crypto-asset data structure storing a data payload including a cryptographic address representing a current owner of the composite crypto-asset, and wherein upon instantiation the cryptographic address is added to the whitelist data structure.

8. The method of claim 7 , comprising:

receiving a transfer request to transfer a second quantity of the composite crypto-asset data structure associated with the customer account to a destination blockchain address, and transition the composite crypto-asset data structure to the transaction state;

updating the balance of the composite crypto-asset data structure associated with the customer account based on the second quantity of the composite crypto-asset data structure to be transferred; and

triggering generation of a crypto-asset token corresponding to the second quantity of the of the composite crypto-asset data structure to be transferred, and transfer of the crypto-asset token to the destination blockchain address stored on the data payload of the composite crypto-asset data structure.

9. The method of claim 7 , comprising:

receiving a decompose request from the cryptographic address representing the current owner of the composite crypto-asset to decompose a second quantity of the composite crypto-asset data structure associated with the customer account and transitioning the composite crypto-asset data structure to the redemption state;

updating the balance of the composite crypto-asset data structure associated with the customer account based on the second quantity of the composite crypto-asset data structure to be transferred;

determining whether the cryptographic address exists on the periodically updated whitelist data structure; and

if the cryptographic address exists on the periodically updated whitelist data structure, using the cryptographic keys corresponding to the plurality of types of crypto-assets in an escrow vault, transferring quantities of the plurality of types of crypto-assets, corresponding to the second quantity, from addresses associated with the escrow account to addresses associated with the customer account, and transitioning the composite crypto-asset data structure to the burn state.

10. The method of claim 6 , wherein the composite crypto-asset data structure is based on a ERC-20 token standard.

11. The method of claim 7 , wherein the whitelist data structure is stored as a reference payload on the publicly accessible blockchain distributed ledger network.

12. The method of claim 6 , wherein the escrow vault includes one or more cold storage wallets.

13. The method of claim 6 , wherein the state transitions occur responsive to data messages transmitted through the publicly accessible blockchain distributed ledger network.

Assignments (1)

Continuity (4)

References Cited (24)