One of the world's largest credit card issuers may be looking to blockchain as a way to facilitate the transfer of cryptographic assets, public records show.
A patent application published last week reveals that four employees of Visa's global product and business-to-business platform divisions have submitted a filing entitled "Methods and System for Using Digital Signatures to Create Trusted Digital Asset Services."
The application itself doesn't delve into many specifics, however. The proposed invention is described as being applicable to both public and private blockchains, and hints broadly at the system being used to send digitized assets back and forth.
As the application explains:
Whether Visa is planning to launch a digital asset service based on the technology in the application remains to be seen.
The payments card giant has already moved to build blockchain-based services on the payments front, and is currently working with technology startup Chain to build a business-to-business platform set to launch this year.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Chain.
Visa card image via WDnet Creation/Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.