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USPTO publishes 10 new Bank of America cryptocurrency patents

Tuesday 22 December 2015 10:07 CET | News

The US Patent & Trademark Office (USPTO) has published 10 patent applications that were filed by Bank of America in June, 2014.

The list of proposals includes a “real-time conversion system”, a “cryptocurrency transaction payment system” and a “cryptocurrency suspicious user alert system”. Patent applications for offline storage, “risk detection” and transaction validation were also published, among others.

To date, Bank of America has submitted 11 patent applications related to cryptocurrencies, suggesting that the firm may be looking to build, or to design a cryptocurrency network. Todays release follows the publication of a patent application for a cryptocurrency wire transfer system in September 2015.

Bank of America is one of a growing number of banks looking at the technology and weighing potential applications, a process evident in the range of applications. The bank is also one of 40 institutions taking part in the blockchain consortium led by startup R3CEV. Bank of America did not immediately respond to a request for comment.


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Keywords: USPTO, publication, cryptocurrency, Bank of America, patents, blockchain, design, fintech, banking
Categories: DeFi & Crypto & Web3
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DeFi & Crypto & Web3