U.S. Patent 10783545 was awarded to AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. on September 22, 2020 and is entitled “Reward point redemption for cryptocurrency.” The first named inventor is Vasudevan Swamidurai of Phoenix, AZ. The abstract contains an overview of the patent disclosure:

A system and method for the redemption of reward points for cryptocurrency is disclosed. The system may allow transaction account holders to redeem earned reward points for a selected cryptocurrency. The transaction account holders may establish a blockchain wallet to maintain and track the cryptocurrency. The system may interact with an exchange API of a cryptocurrency exchange platform to purchase the cryptocurrency for a blockchain wallet address associated with the blockchain wallet, or to initiate a transfer of pre-purchased cryptocurrency to the blockchain wallet. The system may provide additional authentication measures to ensure that the transaction is initiated by the transaction account holder and that the transaction account holder understands the potential risks of investing in cryptocurrencies. Link to Full Patent

This blockchain patent was originally filed on April 19, 2018  as U.S. Patent Application 15/956982 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10783545. The primary examiner was Vincent M Cao.

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., who is the original assignee of this patent, has at least 1156 total granted patents in the United States as of the date of this article. 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.

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