U.S. Patent 11151525 was awarded to Coinbase, Inc. on 2021-10-19 and describes a “Systems and methods for withdrawal consolidation.” Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform. This blockchain patent has been cited 0 times by other U.S. patents according to our law firm research, and can be considered an innovative patent in the field of cryptocurrency and blockchain. The abstract states:

Systems and methods for performing consolidation of several cryptocurrency payments by using a non-custodial cryptocurrency platform. A consolidation address is generated at the non-custodial platform in response to a withdrawal request. The consolidation address is under direct ownership of a user. At least one unsigned consolidation transaction is generated that identifies at least one selected payment representation as input, and the generated consolidation address as an output. An unsigned destination transaction is also generated. The unsigned destination transaction identifies the generated consolidation address as an input and the withdrawal destination as an output. A signed version of each consolidation transaction and a signed version of the destination transaction are received from a signing enclave. The signing enclave is included in a client device of the user. Link to Full Patent

This patent was originally filed on 2020-03-05 which gives it an average processing time in the field. Coinbase, Inc. has 20 total patents. The first named inventor is Paul Collier of San Francisco, CA. The primary examiner was William J Jacob. Coinbase was founded in June 2012 by Brian Armstrong.

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