Forge Global has been granted a patent for a computer-implemented method for digital currency escrow swaps on a network of nodes. The method involves transfer orders, digital wallets, and operations for finishing transfer-in and transfer-out orders. This innovation streamlines digital currency transactions securely. GlobalData’s report on Forge Global gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Forge Global, was a key innovation area identified from patents. Forge Global's grant share as of February 2024 was 55%. Grant share is based on the ratio of number of grants to total number of patents.

Digital currency escrow swap method on network of nodes

Source: United States Patent and Trademark Office (USPTO). Credit: Forge Global Holdings Inc

The granted patent (Publication Number: US11908012B2) outlines a computer-implemented method for executing a digital currency escrow swap on a network of nodes. The method involves various operations, including transfer-in and transfer-out operations, as well as transfer-in-order and transfer-out-order finishing operations. These operations encompass receiving indications of orders, transferring digital currency and securities between nodes, and utilizing digital wallets to facilitate the transactions. The method also includes the signing of unsigned digital currency allowance transfers by the respective party nodes using digital wallets. Matching of transfer-out and transfer-in orders can be performed by an agent node distinct from the intermediate and common nodes involved in the process.

Furthermore, the patent describes a system and a computer-readable storage medium that implement the method outlined in the claims. The system comprises at least one hardware processor and non-transitory memory storing instructions for executing the various operations related to the digital currency escrow swap. The digital currency involved in the transactions can include security tokens, and the digital wallets utilized in the process can store public and private keys for the digital currency. Additionally, the digital wallets can connect to an Ethereum blockchain to transfer ether. The computer-readable storage medium carries instructions for performing the transfer operations, signing digital currency transfers, and facilitating the exchange of digital securities between the involved parties, ultimately enabling the secure execution of digital currency escrow swaps on the network of nodes as detailed in the patent claims.

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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.