Granted Patent B1

US 12,254,515 · App. 18/890,044 · Granted Mar 18, 2025

Inventors: Rachel Mayer (Boston, MA); Adrian Soghoian (Boston, MA); Erik Tierney (Boston, MA); Kaili Wang (Boston, MA)

Assignee: CIRCLE INTERNET FINANCIAL, LTD.

G06Q40/04

Abstract

Claims (34)

1. A computer-implemented method for real-time redemption of a first digital asset for a second digital asset, the computer-implemented method being executed by one or more processors and comprising:

receiving, by a first smart contract and from a first account, a redemption request for a swap transaction to redeem an amount of the first digital asset for an amount of the second digital asset;

responsive to the redemption request:

determining that the redemption request is valid and the first account is allowed to initiate swap transactions,

automatically initiating, by the first smart contract, a transfer of a first number of tokens of the first digital asset from the first account to the second account, and

notifying, by the first smart contract, a second smart contract; and

in response to notification by the first smart contract, automatically initiating, by the second smart contract, minting of the second number of tokens of the second digital asset and transferring of the second number of tokens of the second digital asset to the first account.

2. The computer-implemented method of claim 1 , wherein the second number of tokens is minted by a liquidity source minter in response to a function executed by the second smart contract.

3. The computer-implemented method of claim 1 , wherein the second account is owned by an entity that mints the second digital asset.

4. The computer-implemented method of claim 1 , wherein the first digital asset comprises a tokenized money market fund (T-MMF) and the second digital asset comprises a stablecoin.

5. The computer-implemented method of claim 1 , wherein the first smart contract and the second smart contract are provided as a single smart contract.

6. A non-transitory computer-readable storage medium coupled to one or more processors and having instructions stored thereon which, when executed by the one or more processors, cause the one or more processors to perform operations for real-time redemption of a tokenized asset for a digital currency, the operations comprising:

receiving, by a first smart contract and from a first account, a redemption request for a swap transaction to redeem an amount of the first digital asset for an amount of the second digital asset;

responsive to the redemption request:

determining that the redemption request is valid and the first account is allowed to initiate swap transactions,

automatically initiating, by the first smart contract, a transfer of a first number of tokens of the first digital asset from the first account to the second account, and

notifying, by the first smart contract, a second smart contract; and

in response to notification by the first smart contract, automatically initiating, by the second smart contract, minting of the second number of tokens of the second digital asset and transferring of the second number of tokens of the second digital asset to the first account.

7. The non-transitory computer-readable storage medium of claim 6 , wherein the second number of tokens is minted by a liquidity source minter in response to a function executed by the second smart contract.

8. The non-transitory computer-readable storage medium of claim 6 , wherein the second account is owned by an entity that mints the second digital asset.

9. The non-transitory computer-readable storage medium of claim 6 , wherein the first digital asset comprises a tokenized money market fund (T-MMF) and the second digital asset comprises a stablecoin.

10. The non-transitory computer-readable storage medium of claim 6 , wherein the first smart contract and the second smart contract are provided as a single smart contract.

11. A system, comprising:

one or more processors; and

a non-transitory computer-readable storage device and having instructions stored thereon which, when executed by the computing device, cause the computing device to perform operations for real-time redemption of a tokenized asset for a digital currency, the operations comprising:

receiving, by a first smart contract and from a first account, a redemption request for a swap transaction to redeem an amount of the first digital asset for an amount of the second digital asset;

responsive to the redemption request:

determining that the redemption request is valid and the first account is allowed to initiate swap transactions,

automatically initiating, by the first smart contract, a transfer of a first number of tokens of the first digital asset from the first account to the second account, and

notifying, by the first smart contract, a second smart contract; and

in response to notification by the first smart contract, automatically initiating, by the second smart contract, minting of the second number of tokens of the second digital asset and transferring of the second number of tokens of the second digital asset to the first account.

12. The system of claim 11 , wherein the second number of tokens is minted by a liquidity source minter in response to a function executed by the second smart contract.

13. The system of claim 11 , wherein the second account is owned by an entity that mints the second digital asset.

14. The system of claim 11 , wherein the first smart contract and the second smart contract are provided as a single smart contract.

Assignments (1)

Continuity (1)

References Cited (14)