Granted Patent B1

US 12,282,903 · App. 18/083,284 · Granted Apr 22, 2025

Inventors: Ashish B. Kurani (Hillsborough, CA); Dennis E. Montenegro (Concord, CA)

Assignee: Wells Fargo Bank, N.A.

G06Q20/065H04L9/0825H04L9/14H04L9/3213G06Q2220/00H04L2209/56H04L2209/60

Abstract

Claims (27)

1. A method of transferring an NFT in a financial institution from a source account associated with a first customer computing device to a recipient account associated with a second customer computing device, the method comprising:

registering, by an account processor, a non-fungible token (NFT) account to a customer associated with the first customer computing device;

receiving, by a mobile wallet computing system from the first customer computing device, a request to transmit an amount of fiat currency from the source account to the recipient account;

identifying, by an NFT transaction processor, an NFT linked with a first public and private key pair associated with the source account, having a transfer property indicating that the NFT is transferable from the source account, having a value property denominated in fiat currency, and having a volatility metric based on one or more requests to transfer the NFT prior to or concurrently with the request;

determining, by the NFT transaction processor, that a modified value property of the NFT based on the value property and the volatility metric satisfies a threshold based on the amount of fiat currency;

transferring, by the NFT transaction processor in response to the determining, the NFT from the first public and private key pair to a second public and private key pair linked with the NFT transaction processor and associated with an institution account of the financial institution;

generating, by the NFT transaction processor, a third public and private key pair linked with the second customer computing device and associated with the recipient account; and

transferring, by the NFT transaction processor in response to the determining, the amount of fiat currency from the second public and private key pair to the third public and private key pair.

2. The method of claim 1 , further comprising:

transferring, by the NFT transaction processor, an NFT difference from the second public and private key pair to the first public and private key pair, the NFT difference equal to a difference between the amount of fiat currency and the modified value property.

3. The method of claim 1 , further comprising:

determining, by the NFT transaction processor, that the volatility metric indicates a lower volatility than one or more corresponding volatility metrics of a plurality of NFTs including the NFT; and

selecting, by the NFT transaction processor from among the plurality of NFTs and in response to the determining that the volatility metric indicates the lower volatility, the NFT.

4. The method of claim 3 , further comprising:

determining, by the NFT processor and based on one or more requests to transfer corresponding ones of the plurality of NFTs, the corresponding volatility metrics of the plurality of NFTs.

5. The method of claim 1 , further comprising:

determining, by the NFT transaction processor, that the value property indicates a higher value than one or more corresponding value properties of a plurality of NFTs including the NFT; and

selecting, by the NFT transaction processor from among the plurality of NFTs and in response to the determining that the value property indicates the higher value, the NFT.

6. The method of claim 1 , further comprising:

generating, by the NFT transaction processor and based on the first public and private key pair, the transfer property to indicate that the NFT is transferable from the source account.

7. The method of claim 1 , further comprising:

scaling, by the NFT transaction processor, the value property by the volatility metric into the modified value property.

8. The method of claim 1 , further comprising:

receiving, by the NFT transaction processor via a communication interface compatible with an NFT transfer system external to the NFT transaction processor, the requests to transfer the NFT prior to or concurrently with the request.

9. The method of claim 1 , further comprising:

determining, by the NFT transaction processor, that a second NFT has a transfer property indicating that the second NFT is restricted to the source account; and

blocking, by the NFT transaction processor and in response to the determining that the second NFT has the transfer property indicating that the second NFT is restricted to the source account, selecting the NFT.

Assignments (1)

References Cited (73)