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Bank of America Patent Details How Enterprises Could Store Crypto

Cryptocurrency NewsNov 14, 2018 12:15AM ET
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© Reuters.

A patent awarded to the Bank of America (NYSE:BAC) outlines how enterprise-level institutions may be able to store cryptocurrencies owned by their customers.

The filing, awarded by the U.S. Patent and Trademark Office Tuesday, contends that large companies – specifically enterprise-level institutions – may want to store cryptocurrencies for customers should they see wider adoption.

There is an increasing number of enterprises which may transact with cryptocurrencies or offer services related to them, including crypto exchanges and custodians, according to the patent – and some of these businesses may be required to convert a deposit of some currency into a cryptocurrency to then hold.

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Bank of America Patent Details How Enterprises Could Store Crypto
 

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