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Winklevoss IP, the company owned by Gemini authors Cameron and Tyler Winklevoss, has been granted with a patent claim that intends to settle exchange-traded products (ETPs) holding cryptocurrencies.
The company sketched out a framework that can execute transactions for ETPs holding cryptocurrencies, “for example, bitcoins … ripple, dogecoins … ether” and also BBQCoin, among others, as indicated by patent distributed by the U.S. Patent and Trademark Office on Tuesday. The company initially recorded the application in December of a year ago.
ETPs, which incorporate exchange-traded funds (ETF), is a sort of security whose costs get from other investment instruments they are tied to, which in the Winklevoss case, would be cryptocurrencies. The product explained in the patent application as ETP is similar to an ETF.
An Exchange Traded Fund (ETF) is a tradable securi...
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