Digital currency infrastructure
Aspects of integrating digital currency usage into financial transaction systems and infrastructure are discussed herein. Such contemplated systems and infrastructure may facilitate the use and/or adoption of digital currency in a variety of contexts. By way of example, in certain embodiments a digital currency infrastructure may be provided that facilitates the acquisition of one or more digital currencies and/or the acceptance of such currencies in a transaction. In other aspects the digital currency infrastructure may include or incorporate the use of a digital currency wallet that enables the access to and use of multiple different types of digital currencies (e.g., cryptocurrencies).
1 . A method for conducting a digital currency transaction, comprising:
receiving a first indication of a credit debt or loan payment associated with a requested transaction, wherein the credit debt or loan payment comprises a principal component and an interest component;
receiving, as part of the first indication, a selection of a first digital currency in which the principal component shall be paid and a selection of a second digital currency in which the interest component shall be paid, wherein the first digital currency and the second digital currency are different;
receiving from a first party one or both of a second indication of the first digital currency and a first requested amount of the first digital currency, wherein the first digital currency and the first requested amount correspond to the principal component, and wherein the first digital currency comprises a first cryptocurrency;
receiving from the first party one or both of a third indication of the second digital currency and a second requested amount of the second digital currency, wherein the second digital currency and the second requested amount correspond to the interest component, and wherein the second digital currency comprises a second cryptocurrency;
comparing the requested transaction to one or more thresholds;
upon a determination that the requested transaction equals or does not exceed the one or more thresholds, acquiring the first digital currency and the second digital currency from one or more external parties;
completing the requested transaction by transferring the first digital currency in the first requested amount to a digital currency account of the first party and transferring the second digital currency in the second requested amount to the digital currency account of the first party, wherein the digital currency account is maintained for the first party by a financial institution, and wherein the digital currency account is accessed by the first party via an application; and
facilitating the credit debt or loan payment using the first digital currency to pay the principal component and the second digital currency to pay the interest component.
2 . The method of claim 1 , further comprising:
upon an additional determination that the one or more thresholds are exceeded, declining the requested transaction.
3 . The method of claim 1 , wherein transferring the first requested amount of the first digital currency to the digital currency account of the first party comprises receiving a fourth indication of a quantity of the first digital currency in the digital currency account.
4 . The method of claim 1 , wherein receiving the first requested amount of the first digital currency from the first party comprises receiving a fourth indication of a quantity of a different currency and converting the quantity of the different currency to the first requested amount of the first digital currency via an exchange rate.
5 . The method of claim 1 , wherein the one or more thresholds comprise at least one threshold corresponding to a value-based limitation on a quantity of the first digital currency that is allowed to be acquired.
6 . A tangible, non-transitory, computer-readable medium, comprising computer-readable instructions that, when executed by one or more processors of a computer, cause the computer to:
receive a first indication of a credit debt or loan payment associated with a requested transaction, wherein the credit debt or loan payment comprises a principal component and an interest component;
receive, as part of the first indication, a selection of a first digital currency in which the principal component shall be paid and a selection of a second digital currency in which the interest component shall be paid, wherein the first digital currency and the second digital currency are different;
receive from a first party one or both of a second indication of the first digital currency and a first requested amount of the first digital currency, wherein the first digital currency and the first requested amount correspond to the principal component, and wherein the first digital currency comprises a first cryptocurrency;
receive from the first party one or both of a third indication of the second digital currency and a second requested amount of the second digital currency, wherein the second digital currency and the second requested amount correspond to the interest component, and wherein the second digital currency comprises a second cryptocurrency;
compare the requested transaction to one or more thresholds;
upon a determination that the requested transaction equals or does not exceed the one or more thresholds, acquire the first digital currency and the second digital currency from one or more external parties;
complete the requested transaction by transferring the first digital currency in the first requested amount to a digital currency account of the first party and transferring the second digital currency in the second requested amount to the digital currency account of the first party, wherein the digital currency account is maintained for the first party by a financial institution, and wherein the digital currency account is accessed by the first party via an application; and
facilitate the credit debt or loan payment using the first digital currency to pay the principal component and the second digital currency to pay the interest component.
7 . The tangible, non-transitory, computer-readable medium of claim 6 , comprising computer-readable instructions that, when executed by the one or more processors of the computer, cause the computer to:
upon an additional determination that the one or more thresholds are exceeded, decline the requested transaction.
8 . The tangible, non-transitory, computer-readable medium of claim 6 , wherein transferring the first requested amount of the first digital currency from the first party comprises receiving a fourth indication of a quantity of the first digital currency in the digital currency account.
9 . The tangible, non-transitory, computer-readable medium of claim 6 , wherein receiving the first requested amount of the first digital currency from the first party comprises receiving a fourth indication of a quantity of a different currency and converting the quantity of the different currency to the first requested amount of the first digital currency via an exchange rate.
10 . The tangible, non-transitory, computer-readable medium of claim 6 , wherein the one or more thresholds comprise at least one threshold corresponding to a value-based limitation on a quantity of the first digital currency that is allowed to be acquired.
11 . A system, comprising:
a financial institution server, comprising one or more processors and tangible, non-transitory machine-readable storage mediums comprising machine-readable instructions that, when executed by the one or more processors, cause the financial institution server to:
receive a first indication of a credit debt or loan payment associated with a requested transaction, wherein the credit debt or loan payment comprises a principal component and an interest component;
receive, as part of the first indication, a selection of a first digital currency in which the principal component shall be paid and a selection of a second digital currency in which the interest component shall be paid, wherein the first digital currency and the second digital currency are different;
receive from a first party one or both of a second indication of the first digital currency and a first requested amount of the first digital currency, wherein the first digital currency and the first requested amount correspond to the principal component, and wherein the first digital currency comprises a first cryptocurrency;
receive from the first party one or both of a third indication of the second digital currency and a second requested amount of the second digital currency, wherein the second digital currency and the second requested amount correspond to the interest component, and wherein the second digital currency comprises a second cryptocurrency;
compare the requested transaction to one or more thresholds;
upon a determination that the requested transaction equals or does not exceed the one or more thresholds, acquire the first digital currency and the second digital currency from one or more external parties;
complete the requested transaction by transferring the first digital currency in the first requested amount to a digital currency account of the first party and transferring the second digital currency in the second requested amount to the digital currency account of the first party, wherein the digital currency account is maintained for the first party by a financial institution, and wherein the digital currency account is accessed by the first party via an application; and
facilitate the credit debt or loan payment using the first digital currency to pay the principal component and the second digital currency to pay the interest component.
12 . The system of claim 11 , comprising machine-readable instructions that, when executed by the one or more processors, cause the server to:
upon an additional determination that the one or more thresholds are exceeded, decline the requested transaction.
13 . The system of claim 11 , wherein transferring the first requested amount of the first digital currency from the first party comprises receiving a fourth indication of a quantity of the first digital currency in the digital currency account.
14 . The system of claim 11 , wherein receiving the first requested amount of the first digital currency from the first party comprises receiving a fourth indication of a quantity of a different currency and converting the quantity of the different currency to the first requested amount of the first digital currency via an exchange rate.
15 . The system of claim 11 , wherein the one or more thresholds comprise at least one threshold corresponding to a value-based limitation on a quantity of the first digital currency that is allowed to be acquired.