USPTO Awards Patent to Bank of America’s Cryptocurrency Exchange System

The US Patent and Trademark Office (USPTO) has awarded a patent to the proposed digital currency exchange system filed by the country’s second-biggest bank, Bank of America.

The system will allow the conversion of one virtual currency into another automatically, with the exchange rate to be determined based on external data feeds.

Under the patent application, the proposed system would gather data from external information sources on the current virtual currency exchange rates and utilize the data to calculate its own optimal rate.