CHARLOTTE, N.C.–Bank of America has received nine more patents related to blockchain from the U.S. Patent and Trademark Office.
According to an analysis by CoinDesk, the patents, all of which relate to conducting and settling transactions within a payment network, were filed in early 2017. In all, BofA has at least 30 patent applications related to blockchain.
CoinDesk said the patents make clear BofA is working to create a broad presence in blockchain-based payments systems that could give it a clear market advantage as the technology becomes more widespread. BofA, however, has had little to say about its intentions.
In September, 2016, the bank announced with Microsoft a joint effort the companies said is aimed at applying blockchain tech to the area of trade finance. In their statement, the companies said the initiative with Microsoft Treasury, which handles the Microsoft’s corporate payments and strategic investments, is to build a new blockchain-based system to facilitate transactions between the two companies.