The money transfer company is seeking a patent for a transaction analysis system that could be applied to digital currencies like Bitcoin. The application, which lists 6 inventors, was originally submitted in September 2016.
The system, according to the description, is applicable to the realm of cryptocurrencies. The application states: “in various embodiments, electronic data transfer network may be configured to support and perform transfers of various currency types, including traditional and/or digital currencies, centralized and/or de-centralized currencies, cryptocurrencies, and any other medium of exchange...between client devices and/or external systems in different areas, regions, or jurisdictions.”
The company’s interest in the blockchain technology is also related to its partnership with distributed ledger startup Ripple, first unveiled in April 2015. Furthermore, the company has also advocated for the imposition of AML controls on digital currency businesses in the run-up to New Yorks BitLicense regulatory framework, according to CoinDesk.
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