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Winklevoss Twins Secure Patent for Settling ETPs with Cryptocurrencies

According to a patent filing publicised by the United States Patent Trademark Office (USPTO) on Tuesday, May  8, 2017, the Winklevoss Twins have won a patent application for settling exchange-traded products (ETPs) using Cryptocurrencies.

The patent application first filed by the Winklevoss twins was first released in December 2017 gives a summary of “systems, methods and program products “for digital currency asset trading.

The successful patent application is yet another victory for Winklevoss after the company received another a patent related to digital currency security in February making it part of their Gemini trading platform.

“The current invention relates to methods, systems and program products that will be used for the exchange-traded products (ETPs) holding digital assets together with other products or services associated to ETPs holding digital assets, “ reads the description of the patent.

Over a year ago, the US Securities and Exchange Commission (SEC) declined the Winklevoss’ application to unveil a regulated Bitcoin exchange-traded fund (ETF), one of the tools that fall under the bracket of ETPs.

At that time, the rejection caused some uncertainty in the markets, with most sources suggesting that the application had come sooner than expected and the authorities were planning to lay measures to handle such an innovation.

The founders have not shown any signs of giving up after witnessing significant progress from finance giants like New York Exchange and Goldman Sachs to unveil the Bitcoin-related products and services.

Data released from Justin patents shows that Winklevoss has collected a total of five successful patents this year.

 

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