Granted Patent B2

US 12,380,498 · App. 18/201,341 · Granted Aug 5, 2025

Inventor: Ashish B. Kurani (Burlingame, CA)

Assignee: Wells Fargo Bank, N.A.

G06Q40/04

Abstract

Claims (54)

1. A method of performing exchanges of a math-based currency (“MBC”), the method comprising:

receiving, by a MBC transaction processor, an exchange request from a customer computing device for exchanging a first amount of a first currency for a second amount of a second currency;

determining, by an exchange processor, a current exchange rate for at least one different currency transaction comprising at least one exchange rate for the first currency to the second currency;

determining, by the exchange processor, an exchange sequence based on calculating a first value of the second currency when executing an exchange from the first currency to the second currency;

generating, by the MBC transaction processor, a first public and private key pair for the exchange request and a second public and private key pair associated with an excess MBC amount returning to a MBC account, wherein the first public and private key pair comprises a public key comprising a first address to initiate a transfer between an exchange partner and a customer, and wherein the second public and private key pair is stored in a pooled MBC account database, wherein the pooled MBC account database stores a plurality of public and private key pairs corresponding with a total amount of one or more currencies;

receiving, by the MBC transaction processor, an exchange confirmation from a computing system associated with the exchange partner;

updating, by an account balance processor, an account balance entry on an overlay ledger, wherein the overlay ledger tracks an association of amounts of the one or more currencies with each of a plurality of MBC accounts;

broadcasting, by the MBC transaction processor, the exchange request to at least one MBC verification node; and

updating, by the MBC transaction processor, a blockchain associated with the exchange request, wherein the first public and private key pair is stored at the first address in the pooled MBC account database, and wherein the second public and private key pair is stored at a second address in the pooled MBC account database;

wherein the overlay ledger comprises a plurality of MBC entries corresponding with a balance of MBC disassociated from the plurality of public and private key pairs of the pooled MBC account database, each of the plurality of MBC accounts correspond to an MBC entry of the plurality of MBC entries in the overlay ledger.

2. The method of claim 1 , further comprising collecting a fee for performing the exchange request, wherein the fee is one of (1) a flat fee or (2) a percentage of the first amount of the first currency.

3. The method of claim 1 , wherein the first currency is a first type of MBC and the second currency is a second type of MBC.

4. The method of claim 3 , wherein the overlay ledger is a first overlay ledger associated with the first type of MBC, and wherein the method further comprises updating a second overlay ledger associated with the second type of MBC.

5. The method of claim 1 , wherein the exchange sequence includes a two currency trade, and wherein a first trade of the two currency trade comprises trading the first currency for a third currency, and wherein a second trade of the two currency trade comprises trading a fourth currency held by an institution for the second currency.

6. The method of claim 5 , wherein the exchange sequence comprises the two currency trade generates a higher profit than directly trading the first currency for the second currency.

7. The method of claim 1 , further comprising:

maintaining, by the MBC transaction processor and the account balance processor, a threshold level of MBC in the overlay ledger and the pooled MBC account database.

8. The method of claim 1 , wherein the exchange request comprises an associated location and an identified currency market, and wherein the first currency is a cryptocurrency and the second currency is a fiat currency.

9. A system comprising:

a math-based currency (MBC) transaction processor configured to:

receive an exchange request from a customer computing device for exchanging a first amount of a first currency for a second amount of a second currency;

an exchange processor configured to:

determine a current exchange rate for at least one different currency transaction comprising at least one exchange rate for the first currency to the second currency;

determine an exchange sequence based on calculating a first value of the second currency when executing an exchange from the first currency to the second currency;

the MBC transaction processor further configured to:

generate a first public and private key pair for the exchange request and a second public and private key pair associated with an excess MBC amount returning to a MBC account, wherein the first public and private key pair comprises a public key comprising a first address to initiate a transfer between an exchange partner and a customer, and wherein the second public and private key pair is stored in a pooled MBC account database, wherein the pooled MBC account database stores a plurality of public and private key pairs corresponding with a total amount of one or more currencies;

receive an exchange confirmation from a computing system associated with the exchange partner;

an account balance processor configured to:

update an account balance entry on an overlay ledger, wherein the overlay ledger tracks an association of amounts of the one or more currencies with each of a plurality of MBC accounts;

the MBC transaction processor further configured to:

broadcast the exchange request to at least one MBC verification node; and

update a blockchain associated with the exchange request, wherein the first public and private key pair is stored at the first address in the pooled MBC account database, and wherein the second public and private key pair is stored at a second address in the pooled MBC account database;

wherein the overlay ledger comprises a plurality of MBC entries corresponding with a balance of MBC disassociated from the plurality of private and public key pairs of the pooled MBC account database, each of the plurality of MBC accounts correspond to an MBC entry of the plurality of MBC entries in the overlay ledger.

10. The system of claim 9 , further comprising collecting a fee for performing the exchange request, wherein the fee is one of (1) a flat fee or (2) a percentage of the first amount of the first currency.

11. The system of claim 9 , wherein the first currency is a first type of MBC and the second currency is a second type of MBC.

12. The system of claim 11 , wherein the overlay ledger is a first overlay ledger associated with the first type of MBC, and wherein the account balance processor further configured to update a second overlay ledger associated with the second type of MBC.

13. The system of claim 9 , wherein the exchange sequence includes a two currency trade, and wherein a first trade of the two currency trade comprises trading the first currency for a third currency, and wherein a second trade of the two currency trade comprises trading a fourth currency held by an institution for the second currency.

14. The system of claim 13 , wherein the exchange sequence comprises the two currency trade generates a higher profit than directly trading the first currency for the second currency.

15. The system of claim 9 , wherein the MBC transaction processor and the account balance processor is further configured to:

maintain a threshold level of MBC in the overlay ledger and the pooled MBC account database.

16. The system of claim 9 , wherein the exchange request comprises an associated location and an identified currency market, and wherein the first currency is a cryptocurrency and the second currency is a fiat currency.

17. One or more non-transitory computer-readable storage media having instructions stored thereon that, when executed by a plurality of processing circuits, cause the plurality of processing circuits to:

receive, using a MBC transaction processor of the plurality of processing circuits, an exchange request from a customer computing device for exchanging a first amount of a first currency for a second amount of a second currency;

determine, using an exchange processor of the plurality of processing circuits, a current exchange rate for at least one different currency transaction comprising at least one exchange rate for the first currency to the second currency;

determine, using the exchange processor of the plurality of processing circuits, an exchange sequence based on calculating a first value of the second currency when executing an exchange from the first currency to the second currency;

generate, using the MBC transaction processor of the plurality of processing circuits, a first public and private key pair for the exchange request and a second public and private key pair associated with an excess MBC amount returning to a MBC account, wherein the first public and private key pair comprises a public key comprising a first address to initiate a transfer between an exchange partner and a customer, and wherein the second public and private key pair is stored in a pooled MBC account database, wherein the pooled MBC account database stores a plurality of public and private key pairs corresponding with a total amount of one or more currencies;

receive, using the MBC transaction processor of the plurality of processing circuits, an exchange confirmation from a computing system associated with the exchange partner;

update, using an account balance processor of the plurality of processing circuits, an account balance entry on an overlay ledger, wherein the overlay ledger tracks an association of amounts of the one or more currencies with each of a plurality of MBC accounts;

broadcast, using the MBC transaction processor of the plurality of processing circuits, the exchange request to at least one MBC verification node; and

update, using the MBC transaction processor of the plurality of processing circuits, a blockchain associated with the exchange request, wherein the first public and private key pair is stored at the first address in the pooled MBC account database, and wherein the second public and private key pair is stored at a second address in the pooled MBC account database;

wherein the overlay ledger comprises a plurality of MBC entries corresponding with a balance of MBC disassociated from the plurality of private and public key pairs of the pooled MBC account database, each of the plurality of MBC accounts correspond to an MBC entry of the plurality of MBC entries in the overlay ledger.

18. The one or more non-transitory computer-readable storage media of claim 17 , wherein the first currency is a first type of MBC and the second currency is a second type of MBC, and wherein the overlay ledger is a first overlay ledger associated with the first type of MBC, and wherein the one or more non-transitory computer-readable storage media having the instructions stored thereon that, when executed by the plurality of processing circuits, cause the plurality of processing circuits to update, using the account balance processor, a second overlay ledger associated with the second type of MBC.

19. The one or more non-transitory computer-readable storage media of claim 17 , wherein the exchange sequence includes a two currency trade, and wherein a first trade of the two currency trade comprises trading the first currency for a third currency, and wherein a second trade of the two currency trade comprises trading a fourth currency held by an institution for the second currency, and wherein the exchange sequence comprises the two currency trade generates a higher profit than directly trading the first currency for the second currency.

20. The one or more non-transitory computer-readable storage media of claim 17 , wherein the exchange request comprises an associated location and an identified currency market, and wherein the first currency is a cryptocurrency and the second currency is a fiat currency.

Assignments (1)

Continuity (7)

References Cited (112)