US Patent Issued to JPMORGAN CHASE BANK on June 16 for "Systems and methods for distributed-ledger based intercompany netting" (Singaporean Inventors)

ALEXANDRIA, Va., June 16 -- United States Patent no. 12,657,578, issued on June 16, was assigned to JPMORGAN CHASE BANK N.A. (New York).

"Systems and methods for distributed-ledger based intercompany netting" was invented by Naveen Mallela (Singapore), Gourang Shah (Singapore), Varoon Mandhana (Singapore), Martijn Stoker (Singapore), Manoj Dugar (Singapore) and Abhijit Gupta (Singapore).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for distributed-ledger based intercompany netting may include: receiving, from a first entity within an organization, a deposit of a first amount of funds to a first account; tokenizing the first amount of funds and writing the first amount of funds to a first token walle...