| CPC G06Q 20/027 (2013.01) [G06Q 20/389 (2013.01); G06Q 40/04 (2013.01)] | 10 Claims |
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1. A method, comprising:
receiving, at a collateral provider node in a distributed ledger network comprising a plurality of nodes, blockchain-based tokenization instructions from a collateral provider to tokenize money market fund shares in a pass-thorough account maintained by a transfer agency system, wherein a consensus algorithm writes the blockchain-based tokenization instructions to a plurality of distributed ledgers in the distributed ledger network so that the blockchain-based tokenization instructions are immutable;
providing, by a collateral token agent node of the plurality of nodes in the distributed ledger network, the blockchain-based tokenization instructions to a collateral token agent via an Application Programming Interface;
converting, by a computer program at the collateral token agent and by using a connectivity service, the blockchain-based tokenization instructions to society for worldwide interbank financial telecommunications (“SWIFT”) tokenization instructions that are executable by the transfer agency system;
providing, by a computer program at the collateral token agent, the SWIFT tokenization instructions to the transfer agency system that is not a participant of the distributed ledger network;
moving, by the transfer agency system, the money market fund shares from the pass-thorough account to a collateral token agent investor account also maintained by the transfer agency system, wherein the money market fund shares are unavailable for unilateral access by the collateral provider when in the collateral token agent investor account;
receiving, from the transfer agency system, a SWIFT tokenization confirmation message confirming that the SWIFT tokenization instructions have been executed;
generating, by the computer program at the collateral token agent, blockchain-based tokenization instructions to create a number of tokens equivalent to the money market fund shares to create a token balance for the money market fund shares in the collateral token agent investor account, wherein a first smart contract in the distributed ledger network executes the blockchain-based tokenization instructions and creates the token balance;
writing, by the collateral provider, a blockchain-based pledge instruction to pledge a pledge amount of the token balance as collateral to the distributed ledger network, wherein the blockchain-based pledge instruction comprises the pledge amount of tokens and an identification of a collateral receiver, wherein the collateral provider and the collateral receiver cannot use the pledge amount of tokens while the pledge is in progress;
identifying, by a second smart contract in the distributed ledger network, the blockchain-based pledge instruction to pledge the tokens as collateral;
locking, by the second smart contract, the pledge amount so that the collateral provider and the collateral receiver cannot access the money market fund shares associated with the pledge amount;
writing, by the second smart contract, the pledge amount of tokens as collateral on the distributed ledger network;
granting, by the second smart contract, access to the pledge amount to the collateral receiver;
receiving, at the collateral provider node, blockchain-based redemption instructions from the collateral provider to redeem the token balance for the money market fund shares on the distributed ledger network;
providing, by the collateral token agent node, the blockchain-based redemption instructions to the collateral token agent via the Application Programming Interface;
converting, by the computer program at the collateral token agent, the blockchain-based redemption instructions to SWIFT redemption instructions and providing the SWIFT redemption instructions to the transfer agency system, wherein the transfer agency system is configured to move money market fund shares for the tokenized money market shares from the collateral token agent investor account to the pass-through account;
receiving, by the computer program at the collateral token agent, a SWIFT redemption confirmation message confirming that the SWIFT redemption instructions have been executed; and
writing, by the computer program at the collateral token agent, authorization to reduce a token balance for the money market fund shares in the distributed ledger network, wherein a third smart contract in the distributed ledger network reduces the token balance;
wherein the computer program at the collateral token agent ensures that a total balance of the money market fund shares in the collateral token agent investor account and the token balance is always equal.
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