US Patent Issued to The Central Bank of the United Arab Emirates on March 31 for "Secure processing of central bank digital currency (CBDC) card payments" (British, Bulgarian Inventors)

ALEXANDRIA, Va., March 31 -- United States Patent no. 12,591,870, issued on March 31, was assigned to The Central Bank of the United Arab Emirates (Abu Dhabi, United Arab Emirates).

"Secure processing of central bank digital currency (CBDC) card payments" was invented by Stefan Iliev (Sofia, Bulgaria), Sotiria Fytraki (London), Bogdan Catalin Paunescu (London) and Richard G. Brown (London).

According to the abstract* released by the U.S. Patent & Trademark Office: "Central bank digital currency (CBDC) tokens are used for payment in a transaction initiated by a payment card at an acquirer's point-of-sale. To facilitate these transactions, a card issuer node in a distributed ledger environment receives a payment message from a payment termi...