Tyler and Cameron Winklevoss – the brothers who founded crypto exchange platform Gemini – have reportedly been successful in acquiring 6 patents for stablecoins. 

Revealed by the Patent and Trademark Office, the 1st, 3rd and 5th patents obtained – all describe tools can be used to make amendments to the supply of a public blockchain-powered stablecoin. 

The first patent has the content for the way authorized 3rd-party entities, nominally exchanges or banks, can produce the asset, also on-demand. 

The 3rd and 6th patents of the whole described a system that can help with the creation of a stablecoin on a public blockchain. The 3rd one also claimed that backed stablecoins could be involved in financial transactions, in the form of collateral, and finalized using smart contracts. 

The 4th patent, submitted on April 23rd 2 years ago, “relates to the use of a stable value digital asset to pay dividends for securities and other financial instruments tied to a blockchain.”, described that stablecoin could be a form of payment for securities-generated dividends, nominally stocks. 

With the rapid development and maturity of the crypto market, large firm are investing resources in coming up with new techs and secure patent for them. IBM has reportedly managed to obtain a patent for building a new “self-aware token”, to help with the process of recording events of an offline transaction.