Actually here is what they are trying to claim (formatted for easier readability:
1. A system comprising:
a memory operable to: store a customer account associated with a customer;
and a processor communicatively coupled to the memory, the memory including executable instructions that upon execution cause the system to:
receive an electronic request for a fund transfer from the customer;
initiate a debit of a first amount of a first currency from the customer account;
determine whether using cryptocurrency is optimal;
in response to determining using cryptocurrency is optimal:
transfer the first amount of the first currency into an account associated with a first cryptocurrency exchange;
initiate the purchase of a first quantity of a cryptocurrency from the first cryptocurrency exchange, wherein the first quantity of cryptocurrency is equivalent to the first amount of the first currency;
transfer the first quantity of the cryptocurrency to a second cryptocurrency exchange;
initiate, essentially simultaneously as the initiation of the purchase, the sale of the first quantity of the cryptocurrency at the second cryptocurrency exchange, wherein the sale of the first quantity of cryptocurrency results in a second amount of a second currency;
and communicate a message to a local automated clearing house, the message requesting a transfer of at least a portion of the second amount of the second currency to a recipient.
Seems to me the only thing different from existing systems is the step of determining "whether using cryptocurrency is optimal". Shouldn't be hard to find a reference that does the same for conventional currencies and make an argument for obviousness.
1. A system comprising:
a memory operable to: store a customer account associated with a customer;
and a processor communicatively coupled to the memory, the memory including executable instructions that upon execution cause the system to:
receive an electronic request for a fund transfer from the customer;
initiate a debit of a first amount of a first currency from the customer account;
determine whether using cryptocurrency is optimal;
in response to determining using cryptocurrency is optimal:
transfer the first amount of the first currency into an account associated with a first cryptocurrency exchange;
initiate the purchase of a first quantity of a cryptocurrency from the first cryptocurrency exchange, wherein the first quantity of cryptocurrency is equivalent to the first amount of the first currency;
transfer the first quantity of the cryptocurrency to a second cryptocurrency exchange;
initiate, essentially simultaneously as the initiation of the purchase, the sale of the first quantity of the cryptocurrency at the second cryptocurrency exchange, wherein the sale of the first quantity of cryptocurrency results in a second amount of a second currency;
and communicate a message to a local automated clearing house, the message requesting a transfer of at least a portion of the second amount of the second currency to a recipient.
Even better formatting available here: https://patents.google.com/patent/US20150262173
Seems to me the only thing different from existing systems is the step of determining "whether using cryptocurrency is optimal". Shouldn't be hard to find a reference that does the same for conventional currencies and make an argument for obviousness.