Systems and methods for electronically circulating a currency
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United States of America Patent
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Jan 14, 2014
Grant Date -
Dec 2, 2010
app pub date -
Dec 22, 2009
filing date -
May 26, 2009
priority date (Note) -
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status (Latency Note)
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Abstract
Virtual currency notes may be derived from one or more currency notes deposited at a currency reserve and/or from an asset held by a depository institution. A transaction provider may provide for ownership and/or transfer of the notes by various entities. Ownership of virtual currency notes may be transferred between entities while the depository institution maintains the asset associated therewith. A virtual currency note may be transferred to a transfer account, which may cause an amount equivalent to the virtual currency note to be deposited therein. After the transfer to a transfer account, the transferred virtual currency note may be removed from electronic circulation and/or transferred to another entity.
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