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ARTICLE · 19 JANUARY 2016

Goldman Sachs Files Patent For Cryptocurrency "SETLcoin"

McCarthy Tétrault
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The transformational potential behind the popular cryptocurrency bitcoin continues to draw the interest of traditional financial institutions looking to ready their core businesses for a wave of new financial technology.

CanadaIntellectual Property
Judith McKay
Judith McKay
Ana Badour
Ana Badour
Claire Gowdy
Claire Gowdy
Justin Shoemaker
Justin Shoemaker
Vincent Yip
Vincent Yip
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The transformational potential behind the popular cryptocurrency bitcoin continues to draw the interest of traditional financial institutions looking to ready their core businesses for a wave of new financial technology. The aspect of bitcoin that appears to be of the greatest interest to financial services organizations is not the currency itself, but the underlying blockchain technology. This technology is what enables the integrity of trading systems without a central authority.

On October 30, 2014, Goldman Sachs filed a patent application titled "Cryptographic Currency for Securities Settlement", which claimed priority to an earlier provisional patent application filed in May 15, 2014. The patent application was recently published by the US Patent and Trademark Office on November 19, 2015 as US Patent Application Publication No. 20150332395 (the "395 Application"). The 395 Application refers to a securities settlement system that leverages a distributed ledger

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