Granted Patent B1

US 12,373,804 · App. 17/881,795 · Granted Jul 29, 2025

Inventors: Mayur Chheda (Charlotte, NC); Luiz Fernando Flor da Silva (Pleasant Hill, CA); Matthew Shepherd (Charlotte, NC); Kurt Paul Stevens (Lewisville, NC); June Ann Wroblewski (Danville, CA); Sean Zhang (Walnut creek, CA)

Assignee: Wells Fargo Bank, N.A.

G06Q20/065G06Q20/381G06Q20/42H04L9/50

Abstract

Claims (65)

1. A computer-implemented method comprising:

determining whether a sending financial institution of a sender of a funds transfer and a receiving financial institution of a recipient of the funds transfer each operates a node on a permissioned distributed ledger network;

in response to determining that the sending financial institution and the receiving financial institution each operates a node on the permissioned distributed ledger network, routing a funds transfer request message to the permissioned distributed ledger network; and

in response to the recipient redeeming cash states associated with the funds transfer, destroying, by an issuer, the cash states.

2. The method of claim 1 , further comprising:

transferring an amount of fiat currency cash from an account associated with the sending financial institution to an account associated with the issuer of the cash states; and

receiving, at the node operated by the sending financial institution, an amount of the cash states issued by the issuer corresponding to the transferred amount of fiat currency cash.

3. The method of claim 1 , further comprising:

transferring an amount of fiat currency cash from an account associated with the receiving financial institution to an account associated with the issuer of the cash states; and

receiving, at the node operated by the receiving financial institution, an amount of cash states issued by the issuer corresponding to the transferred amount of fiat currency cash.

4. The method of claim 1 , further comprising:

facilitating the funds transfer associated with the funds transfer request message via cash states issued to the sending financial institution and the receiving financial institution in exchange for fiat currency cash;

debiting an amount of the funds transfer from the cash states issued to the sending financial institution; and

receiving a confirmation from a notary that the funds transfer has been completed.

5. The method of claim 1 , further comprising:

crediting an amount of the funds transfer in cash states within the node operated by the receiving financial institution; and

receiving a confirmation from a notary that the funds transfer has been completed.

6. The method of claim 1 , further comprising:

defunding an amount of fiat currency cash from an account associated with the issuer of the cash states;

receiving, at the node operated by the sending financial institution, an indication from the issuer that an amount of cash states corresponding to the defunded amount of fiat currency cash is destroyed; and

receiving, at an account associated with the sending financial institution, the defunded amount of fiat currency cash from the issuer.

7. The method of claim 1 , further comprising:

defunding an amount of fiat currency cash from an account associated with the issuer of the cash states;

receiving, at the node operated by the receiving financial institution, an indication from the issuer that an amount of cash states corresponding to the defunded amount of fiat currency cash is destroyed; and

receiving, at an account associated with the receiving financial institution, the defunded amount of fiat currency cash from the issuer.

8. The method of claim 1 , wherein the sending financial institution is located in a first country and the receiving financial institution is located in a second country.

9. The method of claim 1 , wherein the sending financial institution and the receiving financial institution are branches of a parent financial institution.

10. The method of claim 1 , wherein the sending financial institution and the receiving financial institution are separate financial institutions.

11. A system associated with a sending financial institution in a funds transfer, the sending financial institution operating a node on a permissioned distributed ledger network, the system comprising:

a network interface;

a customer accounts database storing information related to various customers of the sending financial institution; and

a processing circuit comprising a processor and a memory, the memory structured to store instructions that are executable and cause the processor to:

determine whether a receiving financial institution operates a node on the permissioned distributed ledger network,

in response to determining that the receiving financial institution operates a node on the permissioned distributed ledger network, route a funds transfer request message to the permissioned distributed ledger network, and

in response to a recipient redeeming cash states associated with the funds transfer, destroy, by an issuer, the cash states.

12. The system of claim 11 , wherein the instructions further cause the processor to:

transfer an amount of fiat currency cash from an account associated with the sending financial institution to an account associated with the issuer of the cash states; and

receive, at the node operated by the sending financial institution, an amount of cash states issued by the issuer corresponding to the transferred amount of fiat currency cash.

13. The system of claim 11 , wherein the instructions further cause the processor to:

facilitate the funds transfer via cash states issued to the sending financial institution and the receiving financial institution in exchange for fiat currency cash;

debit an amount of the funds transfer from the cash states issued to the sending financial institution; and

receive a confirmation from a notary that the funds transfer has been completed.

14. The system of claim 11 , wherein the instructions further cause the processor to:

defund an amount of fiat currency cash from an account associated with the issuer of the cash states;

receive, at the node operated by the sending financial institution, an indication from the issuer that an amount of cash states corresponding to the defunded amount of fiat currency cash is destroyed; and

receive, at an account associated with the sending financial institution, the defunded amount of fiat currency cash from the issuer.

15. The system of claim 11 , wherein the sending financial institution is located in a first country and the receiving financial institution is located in a second country.

16. A system associated with a receiving financial institution in a funds transfer, the receiving financial institution operating a node on a permissioned distributed ledger network, system comprising:

a network interface;

a customer accounts database storing information related to various customers of the receiving financial institution; and

a processing circuit comprising a processor and a memory, the memory structured to store instructions that are executable and cause the processor to:

determine whether a sending financial institution operates a node on the permissioned distributed ledger network,

in response to determining that the sending financial institution operates a node on the permissioned distributed ledger network, route a funds transfer request message to the permissioned distributed ledger network, and

in response to a recipient redeeming cash states associated with the funds transfer, destroy, by an issuer, the cash states.

17. The system of claim 16 , wherein the instructions further cause the processor to:

transfer an amount of fiat currency cash from an account associated with the receiving financial institution to an account associated with the issuer of the cash states; and

receive, at the node operated by the receiving financial institution, an amount of cash states issued by the issuer corresponding to the transferred amount of fiat currency cash.

18. The system of claim 16 , wherein the instructions further cause the processor to:

credit an amount of the funds transfer in cash states within the node operated by the receiving financial institution; and

receive a confirmation from a notary that the funds transfer has been completed.

19. The system of claim 16 , wherein the instructions further cause the processor to:

defund an amount of fiat currency cash from an account associated with the issuer of the cash states;

receive, at the node operated by the receiving financial institution, an indication from the issuer that an amount of cash states corresponding to the defunded amount of fiat currency cash is destroyed; and

receive, at an account associated with the receiving financial institution, the defunded amount of fiat currency cash from the issuer.

20. The system of claim 16 , wherein the sending financial institution is located in a first country and the receiving financial institution is located in a second country.

Assignments (1)

Continuity (3)

References Cited (36)