News:

Membrane Granted Patent for Multi-Blockchain Settlement Process

July 31, 2023
Infographic showing many crypto currencies linking to Membrane
Membrane Team
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From Our Senior Team:

Membrane Labs today announced a new U.S. patent for an innovative multi-chain settlement process in digital asset finance technology (U.S. 11,651,353). This patent covers a settlement process that streamlines how different types of cryptocurrencies are settled. The patented system oversees all trade requests, such as a trade of Bitcoin for Ethereum, each using its own blockchain.

Trading cryptocurrencies has always been more complex than traditional trading due to the unique nature of digital assets and their settlement. Because many cryptocurrencies operate on their own blockchain, managing trades across different blockchains has been a significant challenge for the industry.

Membrane’s patented Sub-Atomic Settlement Engine™ addresses this unique challenge by overseeing trade requests across custodians and self-custody. When it’s time to settle multiple trades or loans, the system bundles all the details. Users can proceed to settlement with a few clicks, which triggers the system to queue up a settlement request to both counterparties.

“This patent is a recognition that Membrane’s technology is at the cutting edge, providing our clients with an innovative, cost-effective solution to their digital asset challenges,” said Membrane CEO, Carson Cook. “We set out from the beginning to build solutions for digital assets that are even more reliable, cost-effective, and user-friendly as those developed over many decades in traditional finance, and we see our platform being adopted as the technology of choice for institutional users, including trading desks, lending desks, and exchanges.”

This patent is a significant step toward solving a critical problem unique to cryptocurrency. It helps make the trading process simpler, faster, and safer. Membrane is excited to open the doors to this new era of frictionless cryptocurrency trading and invites all institutions, from institutional trading/lending desks to major enterprises and exchanges, to experience the future of digital finance.

View on einpresswire.com


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