Company of the Winklevoss brothers obtains patent to liquidate ETPs with cryptocurrencies

The patent that allows the liquidation of products marketed in the stock market with cryptocurrencies, has been granted to the company Winklevoss IP, property of the founders of the exchange house Gemini, Cameron and Tyler Winklevoss.

According to the patent published on Tuesday by the United States Patent and Trademark Office, the company highlights a system that can execute transactions for products traded on the stock market, with cryptocurrencies such as Bitcoin, Ether, Ripple and others.

These negotiated products (ETP), which also include investment funds (ETF), are presented as a guarantee in which the prices derive from other financial instruments linked to them, which in this particular case would be cryptocurrencies.

This patent represents a great step for the Winklevoss brothers in the promotion of the investment of cryptocurrency investment funds, after having had to struggle with the inconveniences on the part of the regulators in the country.

Previously, the US Securities and Exchange Commission had rejected the offer by the brothers to include an investment fund quoted in Bitcoins in the exchange Bats, citing risks related to trade and regulatory uncertainty.

Despite this progress, the Securities Commission has not yet approved any Bitcoin investment fund to be included in the exchange offices. Even the proposed amendment to the related regulations of the commission, which had been submitted by numerous firms in January, were also withdrawn at the request of the regulator.

It should be noted that the approval of this patent is in addition to another previously obtained by the company Winklevoss IP, aimed at strengthening the security of cryptocurrency transactions carried out in exchange in the Gemini exchange.