Goldman Sachs Granted 'SETLcoin' Cryptocurrency Patent

Goldman Sachs Granted 'SETLcoin' Cryptocurrency Patent

Investment bank Goldman Sachs has been awarded a patent for its proposed "SETLcoin" cryptocurrency settlement system. The US Patent and Trademark Office (USPTO) published Goldman's patent on July 11, entitled "Cryptographic currency for securities settlement". The bank made headlines when the existence of the patent application was revealed in late 2015. The concept envisions a system for settling securities trades using a built-in cryptocurrency. When filed in December of that year, the application notably outlined methods for exchanging SETLcoins for digitized stocks....


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Goldman Sachs has filed a patent application for a cryptographic currency called SETL Coin to be used for securities settlement. The application, which signifies the New York-based global bank's growing interest in cryptocurrency, has been filed with the U. S. Patent & Trade Mark office. Paul Walker and Phil J. Venables, both of New York, N. Y., are listed as the inventors. The technology provides a virtual, multi-asset wallet for a traditional cash and securities account for an investor or trader. The technology facilitates transactions between non-virtual wallets and a virtual wallet and....

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