US 12,456,148 B2
Devices, systems, and methods for authenticating an account for transacting on cryptocurrency exchanges
Shibabrata Sanjib Kundu, West Bengal (IN); Sandipa Das, West Bengal (IN); Varadharajan Seshadri, Tamilnadu (IN); and Bhuvaneswari Govindan, Tamilnadu (IN)
Assigned to Visa International Service Association, San Francisco, CA (US)
Filed by Visa International Service Association, San Francisco, CA (US)
Filed on Oct. 20, 2022, as Appl. No. 18/048,063.
Prior Publication US 2024/0135447 A1, Apr. 25, 2024
Prior Publication US 2024/0233013 A9, Jul. 11, 2024
Int. Cl. G06Q 40/04 (2012.01); G06Q 20/38 (2012.01); G06Q 20/40 (2012.01); G06Q 20/42 (2012.01)
CPC G06Q 40/04 (2013.01) [G06Q 20/3821 (2013.01); G06Q 20/389 (2013.01); G06Q 20/4014 (2013.01); G06Q 20/42 (2013.01); G06Q 2220/00 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A method of rapidly onboarding a user for access to trade on a cryptocurrency exchange, the method comprising:
establishing an account with an issuer system, wherein the account is associated with a user, wherein the issuer system is separate from the cryptocurrency exchange;
submitting user identifying information to the issuer system, wherein the user is authenticated by the issuer system;
prior to authentication of the user on the cryptocurrency exchange, receiving, via a payment network, an application program interface (“API”) call comprising a request to authenticate the user for access to trade on the cryptocurrency exchange, wherein the request comprises information associated with the account of the user;
based on determining to authenticate the user on the cryptocurrency exchange using the authentication of the user by the issuer system, transmitting, via the payment network, the request to an issuer system associated with the account;
receiving, via the payment network, a verification result from the issuer system, wherein the verification result is based on the user identifying information previously authenticated by the issuer system in association with the account, wherein the verification result is indicative of an authenticity status of the user;
responding, via the payment network, to the request by transmitting an indication of the verification result to the cryptocurrency exchange; and
executing a transaction to perform a trade or acquisition on the payment network with the cryptocurrency exchange.