THELOGICALINDIAN - During the aboriginal anniversary of December the additional better coffer in the US Coffer of America BOA was awarded a cryptocurrency barter apparent The BOA cryptocurrency trading platforms abstraction arbitrary outlines three types of accounts area users and businesses can bandy agenda assets instantly
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Bank of America Receives Approval for a Cryptocurrency Exchange Patent
On December 5 the U.S. Patent and Trademark Office (USPTO) accepted the banking academy Bank of America a patent to body a cryptocurrency exchange. The patent’s arbitrary describes three types of accounts aural the platform’s system. The aboriginal annual is for barter to abundance their agenda funds. The additional and third accounts operated by the business are alleged “float accounts” which acquiesce quick agenda asset swaps from abaft the scenes agnate to a centralized Shapeshift concept.
BOA is one of the best alive banks filing for blockchain and cryptocurrency-related patents over the accomplished few years. Last summer the close activated for over twenty patents this accomplished August accoutrement agenda asset solutions to accessible and clandestine blockchain concepts. The agenda asset trading belvedere apparent was filed in 2014 during the ages of June. The apparent alleged the “cryptocurrency transformation system” is explained absolutely thoroughly aural the summary.
“The arrangement added comprises a processor communicatively accompanying to the anamnesis — The processor may accept an cyberbanking appeal for a bill barter and actuate barter ante for exchanging a aboriginal bill for a additional currency,” explains the BOA apparent 9836790. “The processor may additionally actuate an optimal barter rate.”
While BOA Captures the Most Cryptocurrency Patents, the Company Also Likes to Close Customer Accounts if They Trade Bitcoin
In accession to BOA aggravating to abduction a lot of blockchain and cryptocurrency patents, the aggregation isn’t too affable appear bitcoin traders. The banking academy has been acclaimed for closing people’s coffer accounts if they barter bitcoin. There are many instances area BOA bankrupt a customer’s annual for purchasing cryptocurrencies application applications like Coinbase which deposits money into blockage or accumulation accounts. In fact, this December one chump was beatific an 8-page certificate allurement about his cryptocurrency acceptance and was appropriate to ample out the paperwork afore his annual account was interrupted.
Ironically, the latest apparent approval for a BOA controlled cryptocurrency barter shows the coffer favors agenda assets, and the academy could actual able-bodied body the belvedere in the abreast approaching with its awarded patent.
What do you anticipate about BOA actuality accepted a apparent for a cryptocurrency trading platform? Let us apperceive in the comments below.
Images via Pixabay, Bank of America, the USPTO, and Shutterstock.
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