Systems and methods for tokenizing assets via blockchain-to-blockchain bridge using underlying assets held at a triparty agent or custodian

Patent metadata

Field	Value
Publication number	US-12513014-B2
Application number	US-202318499046-A
Country	US
Kind code	B2
Filing date	Oct 31, 2023
Priority date	Nov 2, 2022
Publication date	Dec 30, 2025
Grant date	Dec 30, 2025

Abstract

A method for tokenizing assets via a blockchain-to-blockchain bridge may include: receiving a first instruction from a client to mint first tokens for a client asset; encumbering the client asset on a custody ledger; creating a balance of the first tokens on a first distributed ledger; receiving a second instruction to lock and mint the first tokens to a second distributed ledger as second tokens; receiving verification from a custodian that the first tokens are locked on a lock ledger for the custodian; instructing a blockchain bridge computer program to mint second tokens to a client address on the second distributed ledger; receiving a third instruction to return the second tokens to the first distributed ledger; executing a public burn of the second tokens on the second distributed ledger; and instructing the custodian to unlock the first tokens and move the first tokens to the first distributed ledger.

First claim

What is claimed is:

1 . A method, implemented using one or more computer processors, for tokenizing assets via a blockchain-to-blockchain bridge using underlying assets held at a triparty agent or custodian, the method comprising:
receiving, at a tokenization agent computer program, a first instruction from a client computer program to mint first tokens for a client asset; encumbering, by the tokenization agent computer program, the client asset on a custody ledger; creating, by the tokenization agent computer program, a balance of the first tokens for the client asset on a first distributed ledger; receiving, by the tokenization agent computer program, a second instruction to lock and mint the first tokens to a second distributed ledger as second tokens; receiving, by the tokenization agent computer program, verification from a custodian or triparty agent that the first tokens are locked on a lock ledger for the custodian or triparty agent; instructing, by the tokenization agent computer program, a blockchain bridge computer program to mint second tokens to a client address on the second distributed ledger; pausing, by a cryptographic private key, a contract between a first blockchain and a second blockchain; unpausing, by the cryptographic private key, the contract between the first blockchain and the second blockchain; receiving, by the tokenization agent computer program, a third instruction to return the second tokens to the first distributed ledger; executing, by the tokenization agent computer program, a public burn of the second tokens on the second distributed ledger; and instructing, by the tokenization agent computer program, the custodian or triparty agent to unlock the first tokens and move the first tokens to the first distributed ledger.

2 . The method of claim 1 , further comprising:
receiving, by the tokenization agent computer program, a request to redeem the first tokens; and executing, by the tokenization agent computer program, a public burn and redeem of the first tokens.

3 . The method of claim 1 , wherein the first instruction, the second instruction, and/or the third instruction are signed with a first private client key.

4 . The method of claim 1 , wherein the balance of first tokens is created with a first tokenization agent private key.

5 . The method of claim 1 , wherein the instruction to mint second tokens, the instruction to unlock, and/or the public burn and redeem are signed with a second tokenization agent private key.

6 . The method of claim 1 , wherein the client computer program performs actions with the second tokens on the second distributed ledger with a second client private key.

7 . A system, comprising: a client electronic device comprising one or more computer processors executing a client computer program stored in a memory;
a custody ledger; a custodian or triparty agent comprising a lock ledger; a first distributed ledger; a second distributed ledger; a blockchain bridge computer program in communication with the first distributed ledger, and the second distributed ledger; and a tokenization agent computer program that is configured to receive a first instruction from the client computer program to mint first tokens for a client asset, to encumber the client asset on the custody ledger, to create a balance of the first tokens for the client asset on a first distributed ledger, to receive a second instruction to lock and mint the first tokens to a second distributed ledger as second tokens, to receive verification from the custodian or triparty agent that the first tokens are locked on the lock ledger, to instruct the blockchain bridge computer program to mint second tokens to a client address on the second distributed ledger, to receive a third instruction to return the second tokens to the first distributed ledger, to execute a public burn of the second tokens on the second distributed ledger, to instruct the custodian or triparty agent to unlock the first tokens and move the first tokens to the first distributed ledger, to pause a contract between a first blockchain and a second blockchain, and to un-pause the contract between the first blockchain and the second blockchain.

8 . The system of claim 7 , wherein the tokenization agent computer program is further configured to request a redeem the first tokens to execute a public burn and redeem of the first tokens.

9 . The system of claim 7 , wherein the first instruction, the second instruction, and/or the third instruction are signed with a first private client key.

10 . The system of claim 7 , wherein the balance of first tokens is created with a first tokenization agent private key.

11 . The system of claim 7 , wherein the instruction to mint second tokens, the instruction to unlock, and/or the public burn and redeem are signed with a second tokenization agent private key.

12 . The system of claim 7 , wherein the client computer program performs actions with the second tokens on the second distributed ledger with a second client private key.

13 . A non-transitory computer readable storage medium, including instructions stored thereon, which when read and executed by one or more computer processors, cause the one or more computer processors to perform steps comprising:
receiving a first instruction from a client computer program to mint first tokens for a client asset; encumbering the client asset on a custody ledger; creating a balance of the first tokens for the client asset on a first distributed ledger; receiving a second instruction to lock and mint the first tokens to a second distributed ledger as second tokens; receiving verification from a custodian or triparty agent that the first tokens are locked on a lock ledger for the custodian or triparty agent; instructing a blockchain bridge computer program to mint second tokens to a client address on the second distributed ledger; receiving a third instruction to return the second tokens to the first distributed ledger; pausing, by a cryptographic private key, a contract between a first blockchain and a second blockchain; unpausing, by the cryptographic private key, the contract between the first blockchain and the second blockchain; executing a public burn of the second tokens on the second distributed ledger; and instructing the custodian or triparty agent to unlock the first tokens and move the first tokens to the first distributed ledger.

14 . The non-transitory computer readable storage medium of claim 13 , further including instructions stored thereon, which when read and executed by one or more computer processors, cause the one or more computer processors to perform steps comprising:
receiving a request to redeem the first tokens; and executing a public burn and redeem of the first tokens.

15 . The non-transitory computer readable storage medium of claim 13 , wherein the first instruction, the second instruction, and/or the third instruction are signed with a first private client key.

16 . The non-transitory computer readable storage medium of claim 13 , wherein the balance of first tokens is created with a first tokenization agent private key.

17 . The non-transitory computer readable storage medium of claim 13 , wherein the instruction to mint second tokens, the instruction to unlock, and/or the public burn and redeem are signed with a second tokenization agent private key.

18 . The non-transitory computer readable storage medium of claim 13 , wherein the client computer program performs actions with the second tokens on

Assignees

• Jpmorgan Chase Bank Na

Inventors

• Shetty Suresh
• Upadhyay Sudhir
• Ahluwalia Manmeet
• Klausing Anthony
• Anantwar Ganesh
• Wasserman Sophia
• Moudgal Keerthi
• Jiao Chang Yang
• Taday Aditya Mayur
• Lobban Tyrone D
• Sharma Nikhil

Classifications

• H04L9/3247

  involving digital signatures · CPC title

• H04L9/3239 Primary

  involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD · CPC title

• H04L9/50 Primary

  using hash chains, e.g. blockchains or hash trees · CPC title