Stripe had one patents in blockchain during Q2 2024. Stripe Inc has developed a proxy cryptocurrency wallet that can receive pre-authorizations for transactions even when the user wallet does not have enough cryptocurrency. The proxy wallet can then execute the transaction by purchasing the digital asset and transferring it to a different recipient wallet. GlobalData’s report on Stripe gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Stripe had no grants in blockchain as a theme in Q2 2024.
Recent Patents
Application: Fiat-crypto onramp (Patent ID: US20240161090A1)
The patent filed by Stripe Inc. describes a proxy cryptocurrency wallet that can receive pre-authorizations for transactions from user wallets, execute transactions to purchase digital assets, and transfer them to recipient wallets. The proxy wallet can identify if it has enough cryptocurrency to execute the transaction and interact with smart contracts associated with the digital assets. It also evaluates transactions against user wallet permissions and computes risk scores associated with payee wallets to determine transaction approval.
Furthermore, the system and computer-readable medium implementing the proxy wallet include features such as purchasing additional cryptocurrency if the wallet balance is insufficient for the transaction, estimating total transaction costs denominated in cryptocurrency, and computing padded exchange rates and transaction fees. The proxy wallet can also evaluate transactions against user wallet permissions and execute transactions based on permission satisfaction. Overall, the patent outlines a system and method for efficient and secure cryptocurrency transactions using a proxy wallet system.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
