IP Library › Granted Patent US 12,475,476
Granted Patent B2
US 12,475,476 · App. 17/378,185 · Granted Nov 18, 2025

Closed-loop environment for efficient, accurate, and secure transaction processing

Inventors: Christopher Michael Petersen (Lakeway, TX); Jeffrey Scott Pittelkau (Montgomery, AL); Nikolais Linsteadt (Applegate, CA); Joseph Arthur Revnes (Atlanta, GA); Brian Daniel Cooper (Marietta, GA); William Matthau (Laguna Niguel, CA); Yamini Bistesh Sagar (Alpharetta, GA); Nicolas Frederic Cabrera (Atlanta, GA); Utkarsh Agarwal (Tucson, AZ); Tim Kuchlein (Cupertino, CA); Bharath Lakshmanan (San Ramon, CA); William Andrew Bryant (Alpharetta, GA); Stephen Paul Saucier (Atlanta, GA); Deepak Kumar (Marietta, GA); Anil Jaiswal (Marietta, GA); Byungkwon Jeon (Cumming, GA); Balaji Devarasetty (Atlanta, GA)
Assignee: Bakkt Marketplace, LLC
G06Q30/0206G06Q30/0201G06Q40/04H04L67/133
View Patent ↗
Loading inventors, assignments & file history…
Monitor This Case
Get email alerts when status or documents change.
Order Certified Copies
Most orders are placed with the USPTO same day — all within 24 business hours.
Order via The Patent Place →
Pre-filled with this patent's details
Quick Facts
Patent No.
US 12,475,476
App. No.
17/378,185
Granted
Nov 18, 2025
Kind
B2
Abstract

Various embodiments of the present disclosure provide methods, apparatuses, systems, devices, computing entities for managing digital asset transactions. An example method includes obtaining first current pricing data via an application programming interface, and providing the first current pricing data via a client device. The method further includes, responsive to determining that a first configurable time period has elapsed: obtaining second current pricing data via an application programming interface, and providing the second current pricing data for display via the client device. The method further includes receiving a second transaction request and executing an off-chain digital asset transaction for the second transaction request between a central operating account and the internal user account within a second configurable time period. The method further includes dynamically providing a notification of execution of the off-chain digital asset transaction, and further generating and storing an account balance data object for the off-chain digital asset transaction.

Claims (66)

1 . A computer-implemented method comprising:

generating and transmitting a first current pricing data application programming interface (API) request, wherein (i) the first current pricing data API request is associated with a first transaction request at a first timepoint and an internal user account identifiable by an internal account identifier, (ii) the first current pricing data API request indicates a digital asset associated with the first transaction request, and (iii) the first transaction request indicates a first number of digital asset units;

receiving a first current pricing data API response comprising first current pricing data;

providing the first current pricing data for display via a client device;

responsive to determining that a first configurable time period has elapsed:

generating and transmitting a second current pricing data API request, wherein the second current pricing data API request indicates the digital asset,

receiving a second current pricing data API response comprising second current pricing data, and

providing the second current pricing data for display via the client device;

receiving a second transaction request, wherein the second transaction request (i) is at a second timepoint, (ii) is associated with the internal user account identifiable by the internal account identifier, and (iii) indicates a second number of digital asset units;

responsive to the second transaction request, executing an off-chain digital asset transaction in real-time for the second transaction request within a second configurable time period, wherein the off-chain digital asset transaction for the second number of digital asset units is between a central operating account and the internal user account, and wherein the off-chain digital asset transaction is executed in response to a predicted increase in demand by a machine learning model trained with a digital asset transaction dataset;

dynamically providing a notification of execution of the off-chain digital asset transaction;

generating an updated digital asset transaction dataset based on the digital asset transaction dataset and the off-chain digital asset transaction, wherein the machine learning model is retrained with the updated digital asset transaction dataset;

generating and storing an account balance data object for the off-chain digital asset transaction; and

executing an on-chain digital asset transaction with a third number of digital asset units, wherein executing the on-chain digital asset transaction comprises generating and committing an on-chain transaction record data object associated with the central operating account to a distributed ledger,

wherein (a) the on-chain digital asset transaction is executed prior to receiving the first transaction request and the second transaction request, and (b) the third number of digital asset units is determined based at least in part on a digital asset unit balance associated with the central operating account.

2 . The computer-implemented method of claim 1 , wherein the first configurable time period is a configurable execution time period or a configurable refresh time period.

3 . The computer-implemented method of claim 2 , wherein (a) the first configurable time period is a configurable refresh time period, and (b) the second current pricing data is different than the first current pricing data by a configurable threshold amount or a configurable threshold percentage.

4 . The computer-implemented method of claim 1 , further comprising:

generating and transmitting a first historical pricing data API request, wherein the first historical pricing data API request indicates the digital asset;

receiving a first historical pricing data API response comprising first historical pricing data; and

providing the first historical pricing data for display via the client device.

5 . The computer-implemented method of claim 1 , wherein the first current pricing data comprises a first conversion rate indicating a first value of a digital asset unit with respect to a flat currency unit.

6 . A system comprising one or more memory storage areas and one or more processors, the system configured for:

generating and transmitting a first current pricing data application programming interface (API) request, wherein (i) the first current pricing data API request is associated with a first transaction request at a first timepoint and an internal user account identifiable by an internal account identifier, (ii) the first current pricing data API request indicates a digital asset associated with the first transaction request, and (iii) the first transaction request indicates a first number of digital asset units;

receiving a first current pricing data API response comprising first current pricing data;

providing the first current pricing data for display via a client device;

responsive to determining that a first configurable time period has elapsed:

generating and transmitting a second current pricing data API request, wherein the second current pricing data API request indicates the digital asset,

receiving a second current pricing data API response comprising second current pricing data, and

providing the second current pricing data for display via the client device;

receiving a second transaction request, wherein the second transaction request (i) is at a second timepoint, (ii) is associated with the internal user account identifiable by the internal account identifier, and (iii) indicates a second number of digital asset units;

responsive to the second transaction request, executing an off-chain digital asset transaction in real-time for the second transaction request within a second configurable time period, wherein the off-chain digital asset transaction for the second number of digital asset units is between a central operating account and the internal user account, and wherein the off-chain digital asset transaction is executed in response to a predicted increase in demand by a machine learning model trained with a digital asset transaction dataset;

dynamically providing a notification of execution of the off-chain digital asset transaction;

generating an updated digital asset transaction dataset based on the digital asset transaction dataset and the off-chain digital asset transaction, wherein the machine learning model is retrained with the updated digital asset transaction dataset;

generating and storing an account balance data object for the off-chain digital asset transaction; and

executing an on-chain digital asset transaction with a third number of digital asset units, wherein executing the on-chain digital asset transaction comprises generating and committing an on-chain transaction record data object associated with the central operating account to a distributed ledger,

wherein (a) the on-chain digital asset transaction is executed prior to receiving the first transaction request and the second transaction request, and (b) the third number of digital asset units is determined based at least in part on a digital asset unit balance associated with the central operating account.

7 . The system of claim 6 , wherein the first configurable time period is a configurable execution time period or a configurable refresh time period.

8 . The system of claim 7 , wherein (a) the first configurable time period is a configurable refresh time period, and (b) the second current pricing data is different than the first current pricing data by a configurable threshold amount or a configurable threshold percentage.

9 . The system of claim 6 , wherein the system is further configured for:

generating and transmitting a first historical pricing data API request, wherein the first historical pricing data API request indicates the digital asset;

receiving a first historical pricing data API response comprising first historical pricing data; and

providing the first historical pricing data for display via the client device.

10 . The system of claim 6 , wherein the first current pricing data comprises a first conversion rate indicating a first value of a digital asset unit with respect to a fiat currency unit.

11 . A computer program product comprising at least one non-transitory computer-readable storage medium having computer-readable program code portions stored therein, the computer-readable program code portions comprising executable portions configured for:

generating and transmitting a first current pricing data application programming interface (API) request, wherein (i) the first current pricing data API request is associated with a first transaction request at a first timepoint and an internal user account identifiable by an internal account identifier, (ii) the first current pricing data API request indicates a digital asset associated with the first transaction request, and (iii) the first transaction request indicates a first number of digital asset units;

receiving a first current pricing data API response comprising first current pricing data;

providing the first current pricing data for display via a client device;

responsive to determining that a first configurable time period has elapsed:

generating and transmitting a second current pricing data API request, wherein the second current pricing data API request indicates the digital asset,

receiving a second current pricing data API response comprising second current pricing data, and

providing the second current pricing data for display via the client device;

receiving a second transaction request, wherein the second transaction request (i) is at a second timepoint, (ii) is associated with the internal user account identifiable by the internal account identifier, and (iii) indicates a second number of digital asset units;

responsive to the second transaction request, executing an off-chain digital asset transaction in real-time for the second transaction request within a second configurable time period, wherein the off-chain digital asset transaction for the second number of digital asset units is between a central operating account and the internal user account, and wherein the off-chain digital asset transaction is executed in response to a predicted increase in demand by a machine learning model trained with a digital asset transaction dataset;

dynamically providing a notification of execution of the off-chain digital asset transaction;

generating an updated digital asset transaction dataset based on the digital asset transaction dataset and the off-chain digital asset transaction, wherein the machine learning model is retrained with the updated digital asset transaction dataset;

generating and storing an account balance data object for the off-chain digital asset transaction; and

executing an on-chain digital asset transaction with a third number of digital asset units, wherein executing the on-chain digital asset transaction comprises generating and committing an on-chain transaction record data object associated with the central operating account to a distributed ledger,

wherein (a) the on-chain digital asset transaction is executed prior to receiving the first transaction request and the second transaction request, and (b) the third number of digital asset units is determined based at least in part on a digital asset unit balance associated with the central operating account.

12 . The computer program product of claim 11 , wherein (a) the first configurable time period is a configurable execution time period or a configurable refresh time period.

13 . The computer program product of claim 12 , wherein (a) the first configurable time period is a configurable refresh time period, and (b) the second current pricing data is different than the first current pricing data by a configurable threshold amount or a configurable threshold percentage.

14 . The computer program product of claim 11 , wherein the computer-readable program code portions comprising executable portions are further configured for:

generating and transmitting a first historical pricing data API request, wherein the first historical pricing data API request indicates the digital asset;

receiving a first historical pricing data API response comprising first historical pricing data; and

providing the first historical pricing data for display via the client device.

15 . The computer program product of claim 11 , wherein the first current pricing data comprises a first conversion rate indicating a first value of a digital asset unit with respect to a fiat currency unit.

Assignments (1)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Aug 6, 2021
From: PETERSEN, CHRISTOPHER MICHAEL; PITTELKAU, JEFFREY SCOTT; LINSTEADT, NIKOLAIS; REVNES, JOSEPH ARTHUR; COOPER, BRIAN DANIEL; MATTHAU, WILLIAM; SAGAR, YAMINI BISTESH; CABRERA, NICOLAS FREDERIC; AGARWAL, UTKARSH; KUCHLEIN, TIM; LAKSHMANAN, BHARATH; BRYANT, WILLIAM ANDREW; SAUCIER, STEPHEN PAUL; KUMAR, DEEPAK; JAISWAL, ANIL; JEON, BYUNGKWON; DEVARASETTY, BALAJI
To: BAKKT MARKETPLACE, LLC
Reel/Frame 057103/0081 →
Continuity (2)
Provisional Application 63116964 · Nov 23, 2020
Related Publication 20220164815A1 · May 26, 2022
References Cited (111)
US 10055715B1 · Grassadonia et al. · 2018 [cited by applicant]
US 10269009B1 · Winklevoss et al. · 2019 [cited by applicant]
US 10489780B2 · Miller et al. · 2019 [cited by applicant]
US 10621561B1 · Brock et al. · 2020 [cited by applicant]
US 11138580B1 · Koch · 2021 [cited by applicant]
US 11288660B1 · Kurani · 2022 [cited by applicant]
US 11501370B1 · Paya et al. · 2022 [cited by applicant]
US 11810190B2 · Snyder · 2023 [cited by examiner]
US 20030115322A1 · Moriconi et al. · 2003 [cited by applicant]
US 20070255662A1 · Tumminaro · 2007 [cited by applicant]
US 20090119209A1 · Sorensen et al. · 2009 [cited by applicant]
US 20130185186A1 · Blackwood · 2013 [cited by applicant]
US 20150046241A1 · Salmon et al. · 2015 [cited by applicant]
US 20150154572A1 · von NotHaus et al. · 2015 [cited by applicant]
US 20150170112A1 · Decastro · 2015 [cited by applicant]
US 20150213419A1 · Lyons et al. · 2015 [cited by applicant]
US 20150262176A1 · Langschaedel et al. · 2015 [cited by applicant]
US 20150332256A1 · Minor · 2015 [cited by applicant]
US 20150363769A1 · Ronca et al. · 2015 [cited by applicant]
US 20150363782A1 · Ronca et al. · 2015 [cited by applicant]
US 20160203477A1 · Yang et al. · 2016 [cited by applicant]
US 20160335628A1 · Weigold · 2016 [cited by applicant]
US 20160371771A1 · Serrano et al. · 2016 [cited by applicant]
US 20170221053A1 · Goloshchuk · 2017 [cited by applicant]
US 20170330159A1 · Castinado et al. · 2017 [cited by applicant]
US 20170357966A1 · Chandrasekhar et al. · 2017 [cited by applicant]
US 20180268382A1 · Wasserman · 2018 [cited by applicant]
US 20190034984A1 · Lee et al. · 2019 [cited by applicant]
US 20190073666A1 · Ortiz et al. · 2019 [cited by applicant]
US 20190139033A1 · Ricotta et al. · 2019 [cited by applicant]
US 20190139037A1 · Khalil et al. · 2019 [cited by applicant]
US 20190220856A1 · Li et al. · 2019 [cited by applicant]
US 20190236593A1 · Vorobyev · 2019 [cited by examiner]
US 20190236594A1 · Ehrlich-Quinn · 2019 [cited by applicant]
US 20190266606A1 · Zhuang · 2019 [cited by examiner]
US 20190303887A1 · Wright et al. · 2019 [cited by applicant]
US 20190303888A1 · Hamasni et al. · 2019 [cited by applicant]
US 20190303921A1 · Mutter · 2019 [cited by examiner]
US 20190303922A1 · Hamasni et al. · 2019 [cited by applicant]
US 20190332691A1 · Beadles et al. · 2019 [cited by applicant]
US 20190354945A1 · Mahajan et al. · 2019 [cited by applicant]
US 20200019937A1 · Edwards et al. · 2020 [cited by applicant]
US 20200034869A1 · Harrison · 2020 [cited by applicant]
US 20200042996A1 · Mayblum · 2020 [cited by examiner]
US 20200042998A1 · Mendhi · 2020 [cited by examiner]
US 20200074464A1 · Trevethan · 2020 [cited by applicant]
US 20200175506A1 · Snow · 2020 [cited by applicant]
US 20200195652A1 · Carnahan et al. · 2020 [cited by applicant]
US 20200211098A1 · Miyamoto et al. · 2020 [cited by applicant]
US 20200265516A1 · Xu · 2020 [cited by applicant]
US 20200279249A1 · Ta · 2020 [cited by applicant]
US 20200334668A1 · Nicli et al. · 2020 [cited by applicant]
US 20200364686A1 · Millius et al. · 2020 [cited by applicant]
US 20200380476A1 · Trudeau et al. · 2020 [cited by applicant]
US 20210012420A1 · Balakrishnan · 2021 [cited by applicant]
US 20210082044A1 · Sliwka et al. · 2021 [cited by applicant]
US 20210083845A1 · Sen et al. · 2021 [cited by applicant]
US 20210119807A1 · Chen et al. · 2021 [cited by applicant]
US 20210150586A1 · Tran · 2021 [cited by applicant]
US 20210357917A1 · Dalton · 2021 [cited by examiner]
US 20210398211A1 · Maathur et al. · 2021 [cited by applicant]
US 20220122062A1 · Mayblum et al. · 2022 [cited by applicant]
US 20220188780A1 · Cabrera et al. · 2022 [cited by applicant]
US 20220188781A1 · El-Bizri · 2022 [cited by applicant]
US 20220188811A1 · Petersen et al. · 2022 [cited by applicant]
US 20220188812A1 · Petersen et al. · 2022 [cited by applicant]
US 20220188917A1 · Petersen et al. · 2022 [cited by applicant]
US 20220237597A1 · Petersen et al. · 2022 [cited by applicant]
US 20220237598A1 · Cabrera et al. · 2022 [cited by applicant]
US 20220237599A1 · Petersen et al. · 2022 [cited by applicant]
US 20240095723A1 · Petersen et al. · 2024 [cited by applicant]
US 20240311805A1 · Petersen et al. · 2024 [cited by applicant]
WO 2017070469A1 · 2017 [cited by applicant]
WO 2017132333A1 · 2017 [cited by applicant]
WO WO2019222432A1 · 2019 [cited by applicant]
WO 2020049442A1 · 2020 [cited by applicant]
Dashkevich, Natalia et al. “Blockchain Application For Central Banks: A Systemic Mapping Study,” in IEEE Access, vol. 8, Jul. 27, 2020 (Year: 2020), pp. 139918-133952, DOI: 10.1109/ACCESS.2020.3012295. [cited by applicant]
Final Office Action for U.S. Appl. No. 17/378,250, dated Mar. 3, 2023, (20 pages), United States Patent and Trademark Office, US. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/377,178, dated Feb. 16, 2023, (20 pages), United States Patent and Trademark Office, US. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/460,799, dated Mar. 1, 2023, (22 pages), United States Patent and Trademark Office, US. [cited by applicant]
Proskuryakov, Alexander et al. “Predictive-Free Methods for Digital Financial Asset Management and Delayed Functional-Differential Economic Game Models,” 2021 International Conference On Information Technology and Nonte… [cited by applicant]
Final Office Action for U.S. Appl. No. 17/460,799, dated Jun. 22, 2023, (12 pages), United States Patent and Trademark Office, US. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/397,810, dated Aug. 15, 2023, (26 pages), United States Patent and Trademark Office, US. [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/050066, dated Nov. 24, 2021, (15 pages), European Patent Office, Rijswijk, Netherlands. [cited by applicant]
Final Office Action for U.S. Appl. No. 17/407,962, dated Apr. 25, 2023, (29 pages), United States Patent and Trademark Office, US. [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/043168, dated Nov. 12, 2021, (15 pages). [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/043173, dated Nov. 12, 2021, (17 pages). [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/043184, dated Nov. 16, 2021, (17 pages). [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/050135, dated Jan. 3, 2022, (14 pages), European Patent Office, Rijswijk, Netherlands. [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/050137, dated Jan. 3, 2022, (14 pages), European Patent Office, Rijswijk, Netherlands. [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/050043, dated Jan. 10, 2022, (16 pages), European Patent Office, Rijswijk, Netherlands. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/407,962, dated Sep. 21, 2022, (53 pages), United States Patent and Trademark Office, US. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/407,962, dated Nov. 14, 2023 (33 pages), United States Patent and Trademark Office, US. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/460,799, dated Oct. 12, 2023, (23 pages), United States Patent and Trademark Office, US. [cited by applicant]
Dashkevich, Natalia et al. “Blockchain Application For Central Banks: A Systemic Mapping Study,” IEEE Access, Jul. 27, 2020, DOI: 10.1109/ACCESS.2020.3012295. [cited by applicant]
NonFinal Office Action for U.S. Appl. No. 17/378,250, dated Aug. 5, 2022, (40 pages), United States Patent and Trademark Office, US. [cited by applicant]
Proskuryakov, Alexander et al. “Predictive-Free Methods for Digital Financial Asset Management and delayed Functional-Differential Economic Game Models,” XPLORE IEEE. 2021 International Conference On Information Technol… [cited by applicant]
International Searching Authority, International Search Report and Written Opinion for International Application No. PCT/US2021/049625, dated Dec. 21, 2021, (16 pages), European Patent Office, Rijswijk, Netherlands. [cited by applicant]
Final Rejection Mailed on May 14, 2024 for U.S. Appl. No. 17/407,962, 41 page(s). [cited by applicant]
Final Rejection Mailed on May 9, 2024 for U.S. Appl. No. 17/460,799, 11 page(s). [cited by applicant]
Non-Final Rejection Mailed on Mar. 15, 2024 for U.S. Appl. No. 17/397,810, 16 page(s). [cited by applicant]
Non-Final Rejection Mailed on Mar. 28, 2024 for U.S. Appl. No. 17/460,810, 14 page(s). [cited by applicant]
Non-Final Rejection Mailed on Oct. 1, 2024 for U.S. Appl. No. 17/460,799, 15 page(s). [cited by applicant]
Final Rejection Mailed on Mar. 5, 2025 for U.S. Appl. No. 17/460,799, 13 page(s). [cited by applicant]
Non-Final Rejection Mailed on Dec. 16, 2024 for U.S. Appl. No. 17/407,962, 37 page(s). [cited by applicant]
Non-Final Rejection Mailed on Feb. 6, 2025 for U.S. Appl. No. 17/397,810, 16 page(s). [cited by applicant]
Non-Final Rejection Mailed on Feb. 14, 2025 for U.S. Appl. No. 18/520,775, 16 page(s). [cited by applicant]
Non-Final Rejection Mailed on Jan. 23, 2025 for U.S. Appl. No. 17/460,810, 17 page(s). [cited by applicant]
Stankov, et al., “Cryptocurrency—A Curious Event in Modern Day Society”, Proc. XXXIII International Scientific Conference Electronics, (6 pages), Sep. 17, 2024. [cited by applicant]
Zhang, et al., “A Hybrid Model for Central Bank Digital Currency Based on Blockchain”, IEEE Access, vol. 9, (13 pages), Apr. 5, 2021, doi: 10.1109/ACCESS.2021.3071033. [cited by applicant]
Final Rejection Mailed on Sep. 18, 2025 for U.S. Appl. No. 17/460,810, 16 page(s). [cited by applicant]