EFFICIENT, ACCURATE, AND SECURE DIGITAL ASSET CONVERSIONS FOR REAL-TIME FUNDING OF MERCHANT TRANSACTIONS

EFFICIENT, ACCURATE, AND SECURE DIGITAL ASSET CONVERSIONS FOR REAL-TIME FUNDING OF MERCHANT TRANSACTIONS

Various embodiments are directed to processing and executing digital asset conversions for real-time funding of a merchant transaction involving a user. The user may pre-select digital assets to be converted to fiat currency, and a pre-selected digital asset can be internally-custodied or externally...

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Bibliographische Detailangaben
Hauptverfasser: Pittelkau, Jeffrey Scott, Cooper, Brian Daniel, Kumar, Deepak, Agarwal, Utkarsh, Devarasetty, Balaji, Saucier, Stephen Paul, Jaiswal, Anil, Petersen, Christopher Michael, Revnes, Joseph Arthur, Lakshmanan, Bharath, Kuchlein, Tim, Jeon, Byungkwon, Sagar, Yamini Bistesh, Cabrera, Nicolas Frederic, Matthau, William, Linsteadt, Nikolais, Bryant, William Andrew
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:Various embodiments are directed to processing and executing digital asset conversions for real-time funding of a merchant transaction involving a user. The user may pre-select digital assets to be converted to fiat currency, and a pre-selected digital asset can be internally-custodied or externally-custodied. An example method includes retrieving a first account balance data object for a fiat currency account associated with the user. The method further includes, responsive to determining that a balance of the fiat currency user account does not satisfy a fiat currency unit threshold of a merchant transaction, retrieving a second account balance data object for a digital asset account associated with the user, determining a conversion rate between a digital asset and a fiat currency, and executing a digital asset conversion by closed-loop debiting digital asset units from the digital asset account and crediting fiat currency units to the fiat currency account.