Systems, methods, and apparatus for conducting fiat currency transactions and cryptocurrency transactions

Abstract

A transaction system for conducting cryptocurrency transactions includes a hardware storage device, a cryptocurrency transaction processing device, and a fiat currency transaction system for processing fiat currency transactions. The hardware storage device has a secure element digital memory module containing instructions readable by a secure element processor for causing the secure element to store a private key in an encrypted state in a digital memory, generate a public key using the private key, and perform a signature operation. The fiat currency transaction system has an interface configured for processing fiat currency transactions in accordance with a smart contract, the smart contract including machine-readable instructions stored in computer memory accessible by the fiat currency transaction system for causing a processor associated with the smart contract to interface with the cryptocurrency transaction processing device to process cryptocurrency transactions sufficient to satisfy the fiat transactions.

Description

[0001] Cross-reference to related applications

[0002] This application claims priority to U.S. Provisional Application No. 63 / 592,369, filed October 23, 2023, the contents of which are incorporated herein by reference in their entirety for all purposes. Background Technology

[0003] Payment cards (such as credit cards, debit cards, loyalty cards, etc.) are widely used to facilitate payments. For example, consumers can use their payment cards to purchase products or services from merchants. Customers can present their payment cards at point-of-sale (POS) terminals (e.g., by inserting or swiping the card, manually entering the required card information, or the POS terminal—which may include a mobile device with POS functionality, such as one running on Android or iOS—to accept contactless transactions). After receiving the necessary card information, the POS terminal sends that information, along with other relevant information such as merchant information and transaction details (e.g., amount and currency), to the acquiring party for transaction approval. The acquiring party then communicates with the issuer (e.g., the entity that issued the card to the consumer) for approval to authorize the transaction.

[0004] However, new payment or transaction systems have been introduced and have recently gained popularity. In one example, cryptocurrency is implemented on a network of computing devices that maintain a digital ledger in the form of a blockchain, directed acyclic graph, or hash graph. Specifically, transactions using cryptocurrency can occur between a sender's cryptocurrency wallet and a receiver's cryptocurrency wallet; these wallets can store private and public keys. In the realm of cryptocurrencies (e.g., Bitcoin), a private key (a unique, typically alphanumeric code, that allows money to be spent) is required to sign cryptocurrency transactions for spending purposes. The public key, or a hash of the public key, essentially identifies the destination of the money. Cryptocurrency transactions typically require the sender and receiver to share their addresses, which are derivatives of their public keys, to complete the transaction, where the associated blockchain is used to prove the validity of the transaction and confirm that the sender has the funds. For other types of authentication (e.g., FIDO or PGP), the sender and receiver share their actual public key (or the original public key in a selected blockchain). Once the payment has been delivered to that address, the receiver needs the private key to retrieve the funds. Exemplary illustrations of the derivative processing from private key to public key to address can be found in this document by reference. https: / / iancoleman.io / bip39 / and https: / / learnmeabitcoin.com / technical / Found there.

[0005] Furthermore, in the realm of cryptocurrencies, smart contracts are machine-readable instructions stored in computer memory (i.e., written in code on the blockchain and stored on each server of the nodes forming a peer-to-peer network). These machine-readable instructions are configured to cause the processor associated with the smart contract to perform actions when predetermined conditions have been met and verified. In doing so, certain actions (e.g., initiating a transfer of funds with appropriate parties to verify the transfer, releasing funds to the appropriate parties, and transferring the right to transfer funds to another party) are automated.

[0006] These new transaction systems typically require servers or systems for managing transaction processing and databases, unlike existing transaction systems. Therefore, improvements are expected in providing transaction systems capable of accepting and / or facilitating multiple payment methods to meet transactions between parties (e.g., customers and merchants), such as fiat currencies (e.g., US dollars, euros, etc.) and non-fiat currencies such as cryptocurrencies (Bitcoin, Ethereum, etc.). Summary of the Invention

[0007] One aspect of the present invention relates to a trading system configured for conducting cryptocurrency transactions. The trading system has a hardware storage device having an integrated circuit including at least one secure element. The secure element has a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element near-field communication (NFC) or contact interface. The secure element digital memory module contains instructions readable by the secure element processor, the instructions being used to cause the secure element to generate a private key and store it in an encrypted state in the digital memory, use the private key to generate a public key, and perform a signing operation. The trading system includes a cryptocurrency transaction processing device having: a user interface including a virtual wallet with a first cryptocurrency address associated therewith; a processing device NFC or contact interface; and a communication interface configured to connect to an exchange server of a cryptocurrency trading network on a global communication network and configured to send signed transaction information to the exchange server to initiate a cryptocurrency transaction. The trading system also includes a fiat currency trading system for processing fiat currency transactions. The fiat currency trading system includes an application processing interface (API) configured to process fiat currency transactions according to a smart contract. The smart contract includes machine-readable instructions stored in a computer memory accessible by the fiat currency trading system. The machine-readable instructions are used to enable a processor associated with the smart contract to interface with a cryptocurrency processing device to process cryptocurrency transactions sufficient to convert an appropriate amount of cryptocurrency associated with a virtual wallet into fiat currency to satisfy the fiat currency transaction.

[0008] Another aspect of the invention relates to a transaction system configured for conducting multiple transactions. The transaction system includes a transaction card comprising a hardware storage device. The hardware storage device has an integrated circuit including at least one secure element, the secure element having a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element NFC or contact interface. The secure element digital memory module contains instructions readable by the secure element processor, the instructions being used to cause the secure element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation. The transaction system also includes a cryptocurrency transaction processing device having a user interface including a virtual wallet, a processing device NFC or contact interface, and a communication interface configured to connect to a transaction platform server of a cryptocurrency transaction network on a global communication network and configured to send signed transaction information to the transaction platform server to initiate a cryptocurrency transaction. The transaction system also includes a fiat currency transaction system for processing transactions using fiat currency via a custodian account associated with the transaction card.

[0009] In some implementations, the hardware storage device is configured to: (a) establish a connection between the hardware storage device and the cryptocurrency transaction processing device using a secure element NFC or contact interface that communicates with the processing device via NFC or a contact interface; receive information from the processing device; retrieve a private key from a digital storage device; perform a signing operation using the private key; check the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key; sign the transaction; and send the signed transaction information to the cryptocurrency transaction processing device to conduct cryptocurrency transactions; and (b) establish a connection with a card reader of a fiat currency transaction system via NFC or contact interaction to authorize transactions processed using funds stored in an escrow account to conduct fiat transactions.

[0010] In some implementations, before performing step (b), step (a) converts a certain amount of cryptocurrency associated with the virtual wallet into fiat currency and deposits it into an escrow account. In yet another implementation, step (b) moves a certain amount of cryptocurrency associated with the transaction from the card user's self-custodial account to the escrow account, and step (b) includes: the custodian of the escrow account converting an appropriate amount of cryptocurrency into fiat currency and sending the converted fiat currency to the requesting recipient to complete the fiat currency transaction.

[0011] Another aspect of the present invention relates to a hardware storage device having an integrated circuit including at least one secure element, the secure element having a secure element processor, a secure element digital memory module including an encryption module, and at least one secure element NFC or contact interface, the secure element digital memory module containing instructions readable by the secure element processor, the instructions being used to cause the secure element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation.

[0012] In some implementations, the secure element digital memory module includes instructions readable by the secure element processor, which cause the secure element to perform the following steps in response to receiving information from a cryptocurrency transaction processing device linked to at least one secure element via NFC or a contact interface: (a) retrieving a private key from the digital memory, defining a signature using the private key, checking the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signing the transaction, and sending the signed transaction information to the cryptocurrency transaction processing device; and step (b) establishing a connection with a card reader of a fiat currency transaction system including an API via NFC or contact interaction, and authorizing a fiat transaction based on a smart contract for the cryptocurrency transaction processed via the API, the smart contract including machine-readable instructions stored in a computer memory accessible by the fiat currency transaction system, the machine-readable instructions causing the processor associated with the smart contract to interface with the cryptocurrency processing device to process a cryptocurrency transaction sufficient to convert an appropriate amount of cryptocurrency associated with a virtual wallet into fiat currency to satisfy the fiat currency transaction.

[0013] In other implementations, step (a) includes causing at least one secure element to perform a signature operation associated with transferring the right to transfer a specified amount of cryptocurrency to a transferee having a second cryptocurrency address associated with the transferee, and step (b) includes: the API approving the fiat transaction after confirming that the funds allocated according to the execution of the smart contract are sufficient to complete the fiat transaction, and the transferee, upon receiving approval from the API, optionally converting the funds corresponding to the fiat transaction from cryptocurrency to fiat currency, and sending an appropriate amount of funds (e.g., the converted fiat currency or the unconverted cryptocurrency) to the requesting recipient to complete the fiat currency transaction.

[0014] Another aspect of the present invention relates to a transaction card comprising a hardware storage device having an integrated circuit including at least one secure element, the at least one secure element having a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element near field communication (NFC) or contact interface, the secure element digital memory module containing instructions readable by the secure element processor, the instructions being used to cause the secure element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation.

[0015] In some implementations, the secure element digital memory module includes instructions readable by the secure element processor, which cause the secure element to perform the following steps in response to receiving information from a cryptocurrency transaction processing device linked to at least one secure element via NFC or a contact interface: (a) retrieving a private key from the digital memory, performing a signing operation using the private key, checking the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signing the transaction, and sending the signed transaction information to the cryptocurrency transaction processing device; and step (b) establishing a connection with a card reader of the fiat currency transaction system via NFC or contact interaction, and authorizing transactions processed using funds stored in an escrow account associated with the transaction card to perform fiat transactions.

[0016] In yet another implementation, prior to step (b), step (a) converts a certain amount of cryptocurrency associated with the virtual wallet into fiat currency and deposits it into an escrow account. In some implementations, step (b) moves a certain amount of cryptocurrency associated with the transaction from the card user's self-custodial account to the escrow account, and step (b) includes: the custodian of the escrow account converting an appropriate amount of cryptocurrency into fiat currency and sending the converted fiat currency to the requesting recipient to complete the fiat currency transaction.

[0017] Another aspect includes a trading system configured for cryptocurrency transactions, comprising: a cryptocurrency transaction processing system configured to send instructions to a trading platform server of a cryptocurrency trading network to initiate cryptocurrency transactions; and a fiat currency trading system for processing fiat currency transactions. The fiat currency trading system includes an application processing interface (API) configured to process fiat currency transactions according to a smart contract, the smart contract including machine-readable instructions stored in a computer memory accessible by the cryptocurrency trading network, the machine-readable instructions being used to cause an issuer associated with the smart contract to process cryptocurrency transactions sufficient to satisfy fiat currency transactions. In one embodiment, the cryptocurrency transaction processing system further includes a cryptocurrency transaction processing device having: a user interface including a virtual wallet with a first cryptocurrency address associated therewith; an NFC or contact interface for the processing device; and a communication interface configured to connect to the trading platform server of the cryptocurrency trading network via a global communication network and configured to send signed transaction information to the trading platform server to initiate cryptocurrency transactions. The implementation also includes a hardware storage device configured to perform a signing operation and send the signed transaction information to the virtual wallet via a communication protocol other than a global communication network. Attached Figure Description

[0018] Figure 1 An exemplary system for conducting cryptocurrency transactions according to various aspects of the present invention is described.

[0019] Figure 2 This is a flowchart depicting exemplary processing steps according to various aspects of the present invention.

[0020] Figure 3 It is a description Figure 2 A flowchart of the additional steps of the methods associated with smart contracts.

[0021] Figure 4 This is a flowchart depicting exemplary processing steps associated with a custodian account according to a method for conducting cryptocurrency transactions, based on various aspects of the present invention.

[0022] Figure 5A Elements of an exemplary user interface or a portion thereof associated with aspects of the present invention are depicted.

[0023] Figure 5B Elements of another exemplary user interface or a portion thereof associated with aspects of the present invention are depicted.

[0024] Figure 6 An exemplary general flowchart is depicted according to various aspects of the present invention, which describes an exemplary decentralized finance (DeFi) payment solution. Detailed Implementation

[0025] Figure 1 The present invention describes an exemplary trading system 100 for conducting cryptocurrency transactions. Typically, the trading system 100 includes a hardware storage device 110, a cryptocurrency transaction processing device 120, and a fiat currency trading system.

[0026] In an exemplary embodiment, the hardware storage device 110 is a transaction card (such as...) Figure 1The transaction card, as depicted in the illustration, may include, for example, a deluxe card made of metal, ceramic, glass, or a combination thereof, having the standard dimensions of a transaction card conforming to ISO / IEC 7810:2003 ID-1, namely a length and width of 85.6 × 53.98 mm (3.4 × 2.1 inches) and a thickness of 0.76 mm (1 / 32 inch). Similar to a standard debit or credit card, card 110 may have a magnetic stripe (and / or printed barcode) configured for interaction with a card reader or POS terminal and physical contacts associated with the transaction card. In these embodiments, the hardware storage device 110 is configured to perform conventional credit or debit card transactions and can therefore be configured with all the typical external markings of a payment card (e.g., a credit card), including the payment module 10, a magnetic stripe (though not shown, but well understood in the art), etc. In some implementations, user identification information may be included, such as card number, username (though not shown, but well understood in the art), user photograph (though not shown, but well understood in the art), and user signature block (though not shown, but well understood in the art), (e.g., including a fingerprint reader or thumbprint reader for controlling access to the hardware storage device). In some implementations, configuring card 110 or other form factors (fob, etc.) for payment plus authentication (e.g., using FIDO) may be advantageous. It should be understood that in some implementations, card 110 / other form factors may be characterized by any combination of encryption, FIDO, access control / loyalty, and / or payment, depending on the software combination.

[0027] Although the device is described as being the size of a transaction card (offering the advantage of fitting neatly into the holder's physical wallet along with a standard transaction card), the invention is not limited to any particular size or shape. Any shape or specification configured for NFC or contact communication with a mobile device, as described herein, may be suitable. For example, hardware storage device 110 may include a keychain-shaped device, a coin-shaped device, or any type of physical token. While constructions using metal, ceramic, glass, or combinations thereof are preferred for durability, the materials used in the construction are not limited.

[0028] Hardware storage device 110 has an integrated circuit (e.g., located within module 10) including at least one secure element 112. The at least one secure element 112 includes a secure element processor 114, a secure element digital memory module 116 including a cryptographic module, and at least one secure element near-field communication (NFC) or contact interface 118. The digital memory 116 of the secure element 112 includes a cryptographic module containing instructions readable by at least one secure element processor 114, which instruct the secure element 112 to store a private key in an encrypted state in the digital memory 116, generate a public key using the private key, and perform a signature operation.

[0029] In NFC interface implementations, NFC interface 118 may include one or more antennas, including in some implementations (including those in which the card comprises plastic, metal, ceramic, wood, or any other construction material) a first antenna integrated within an integrated circuit (IC) chip containing a security element and a second (enhanced) antenna including a layer of the card. In some implementations, the metal layer of the card itself may be configured as an antenna. For example, but not limited to, configurations of metal cards with operable NFC interfaces are described in U.S. Patent No. 10,318,859 entitled “DUALINTERFACE METAL SMART CARD WITH BOOSTER ANTENNA” and U.S. Patent No. 10,762,412 entitled “DI CAPACITIVE EMBEDDED METAL CARD”, both of which are incorporated herein by reference. Although the foregoing description is in the context of a payment module including a security element for communication with a card reader, the NFC interface described therein is equivalent to the NFC interface discussed herein used between a card and a processing device. Similarly, although not disclosed in detail herein, contact chip interfaces for credit / debit cards are well known, and such designs can be used in place of or supplement to NFC interfaces in embodiments of the invention as described herein. It should be understood that while embodiments may be described or depicted using only one or the other of an NFC interface or a contact interface, alternatively or both types of interfaces may also exist.

[0030] In an exemplary embodiment, the transaction system 100 includes a cryptocurrency transaction processing device 120, such as a mobile device, smartphone, tablet, desktop NFC or contact reader, or other type of computer (e.g., an IoT-enabled object utilizing local or edge computing, such as an in-vehicle computer in a vehicle), also referred to hereinafter as a processing device (PD). In some embodiments, the PD may include a wallet on a desktop computer with an NFC or contact card reader, wherein the card acts as a key storage device. The cryptocurrency transaction processing device 120 includes a user interface 126 containing a virtual wallet 129 having a first cryptocurrency address associated with it. The cryptocurrency transaction processing device 120 has a processing device NFC or contact interface 124 and a communication interface 128 configured to connect to a transaction platform server of a cryptocurrency transaction network on a global communications network 130. Additionally or optionally, the communication interface 128 is configured to send signed transaction information to the transaction platform server to initiate a cryptocurrency transaction. It is worth noting that although NFC is the preferred wireless communication protocol, the invention is not limited to the use of NFC, and other (preferably secure) wireless protocols (e.g., Bluetooth) may be used. (e.g., UWB, etc.) to transmit signals between the card and the PD. Similarly, although chips with physical contacts for credit cards and associated readers configured to connect manually (or wirelessly) to mobile devices are known, the present invention is not limited to any particular contact protocol and any combination of contact readers and (e.g., serial) adapters for transmitting signals read from the card using any type of technology to the mobile device can be used.

[0031] In some implementations, the cryptocurrency transaction processing device 120 has a digital memory 122 programmed with instructions readable by the processing device's NFC or contact interface 124. These instructions enable the cryptocurrency transaction processing device 120 to establish a secure connection with a secure element's NFC or contact interface 118 using the NFC or contact communication interface 128 on the cryptocurrency transaction processing device 120, and to send information to the secure element 112 for processing. A cryptocurrency or virtual wallet 129 is operable to access the cryptocurrency network 150 via a global communication network 130. Access to the cryptocurrency network can be direct or indirect (i.e., the virtual wallet 129 can directly interact with a second-layer cryptocurrency network, as a non-limiting example, such as via the Lightning Network or via a decentralized finance (DeFi) protocol (e.g., Compound or Uniswap) on its respective chain).

[0032] Instructions readable by the hardware storage device processor 114 and the mobile device processor 124, when read from their connected memory by the respective processors, enable the system 100 to execute step (a) to process a cryptocurrency transaction and step (b) to process a fiat transaction. In this implementation, the virtual wallet is essentially a self-custodied wallet. Figure 2 In the typical process 200 outlined in the flowchart depicted, step (a) includes a user initiating a cryptocurrency transaction via a user interface 126 of a hardware storage device 110 and a cryptocurrency transaction processing device (e.g., mobile device 120). In step 210, a connection is established between the hardware storage device (e.g., transaction card 110) and the cryptocurrency transaction processing device (e.g., mobile device 120) using a secure element NFC or contact interface 118 communicating with the processing device's NFC interface 128. This connection includes a communication link between the secure element (SE) 112 and the processing device 120, such as (e.g., an encrypted) secure communication link. Using this connection, in step 220, processing device 120 sends high-level information to secure element 112 for processing in communication 132, and in step 230, secure element processor 114 retrieves a private key from digital memory 116, defines a signature using the private key, decrypts the private key using the public key stored in memory 116 (i.e., checks the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using a specific private key), signs the transaction, and sends the signed transaction information back to mobile device 120, for example, via NFC or contact communication 136. This communication may or may not be encrypted. Mobile device 120 then establishes a communication session with cryptocurrency exchange server 152 of cryptocurrency network 150 via global communication network 130 and sends the signed transaction information to the cryptocurrency exchange, which initiates an operable transaction to send currency value or tokens to the exchange server.

[0033] In an exemplary embodiment, transaction system 100 performs step (b) for processing fiat currency transactions. To achieve this, transaction system 100 includes a fiat currency transaction system for processing fiat currency transactions. The fiat currency transaction system includes a payment terminal (e.g., a card reader) 140 and an application processing interface (API) 142 configured to process fiat currency transactions (e.g., according to a smart contract, an example of which is described below and depicted in conjunction with Figure 5). As described above, the smart contract includes machine-readable instructions stored in computer memory accessible by the fiat currency transaction system, which are used to interface a processor associated with the smart contract with a cryptocurrency processing device 120. In a non-limiting example, the smart contract includes instructions to cause a processor associated with the smart contract to process a cryptocurrency transaction sufficient to convert an appropriate amount of cryptocurrency associated with a virtual wallet 129 into fiat currency to satisfy a fiat currency transaction. In another non-limiting example, the smart contract includes instructions to cause a processor associated with the smart contract to process a cryptocurrency transaction sufficient to move an appropriate amount of cryptocurrency associated with virtual wallet 129 to a custodian account or a recipient account to fulfill a fiat currency transaction without converting the cryptocurrency into fiat currency.

[0034] In step 250, a fiat transaction is initiated by the user via hardware storage device 110 and card reader 140 of the fiat currency transaction system. For example, a connection is established between card 110 and card reader 140 via NFC or contact interaction. In an exemplary embodiment, the connection triggers a standard credit or debit card transaction, which is transmitted to the transaction processing network for authorization and fulfillment. Typically asynchronously, prior to or immediately following a fiat transaction and executed within the same workflow as the fiat transaction, cryptocurrency transactions are processed via (e.g., authorized by mobile device 120) APIs according to the management terms of a smart contract to ensure funds are available for fiat transactions. The conversion from cryptocurrency to fiat currency may optionally be performed by a conversion operation by a third-party provider in the value chain (for the recipient requiring payment in fiat currency). The fiat transaction itself is no different from a regular fiat credit card transaction. To facilitate this fiat transaction, security element 112 includes a payment module 10 configured to exchange payment information with the card reader for a purchase transaction. The payment module 10 is connected to the secure element configured to process cryptocurrency transactions, enabling the cold storage device 110 to connect to the mobile device 120 and thus triggering the initiation of a transaction, while the remainder of the transaction can occur as described above.

[0035] In some implementations, sub-steps such as steps 240 and 250 are shown. Figure 3 As shown in the flowchart, step 240a of conducting a cryptocurrency transaction includes: hardware storage device 110, acting as an agent, transferring the right to transfer a specified amount of cryptocurrency associated with the first hardware storage device 110 to the transferee. Additionally, step 250a includes: API 142 approving the fiat transaction after confirming that the funds allocated according to the agent's transfer are sufficient to complete the fiat transaction. Optionally, step 250b includes: the transferee converting the funds corresponding to the fiat transaction from cryptocurrency to fiat currency after receiving approval from API 142, and sending an appropriate amount of the converted fiat currency to the requesting recipient (e.g., a merchant) to complete the fiat currency transaction. However, in some implementations, the entire payment can be conducted cryptographically, in which case 250b includes: the transferee sending an appropriate amount of cryptocurrency to the requesting recipient after receiving approval from API 142 to complete the transaction.

[0036] System 100 can also be configured to receive cryptocurrency deposits. Methods for facilitating such deposits may include: mobile device 120 displaying, in encoded form, a cryptocurrency address associated with cryptocurrency wallet 129 on display 125 for provision to the payer. For example, the address may be in the form of a barcode or QR code captured by the payer using mobile device 120. The system can also read the address from NFC or other wireless or contact communication signals. The system can also be configured to conduct any type of cryptocurrency transaction, such as purchasing cryptocurrency (i.e., using fiat currency) or trading cryptocurrency (i.e., exchanging an amount of one cryptocurrency for an equivalent amount of another cryptocurrency).

[0037] Another implementation of system 100 is disclosed, such as system 300. System 300 is similar to system 100. For example, transaction system 300 is configured to perform multiple transactions and typically includes a transaction card, a cryptocurrency transaction processing device, and a fiat currency transaction system, wherein the details of each generally correspond to the details of the hardware storage device 110, the cryptocurrency transaction processing device 120, and the fiat currency transaction system of system 100, respectively.

[0038] However, System 300 differs from System 100 in some respects. For example, System 300's fiat currency trading system is configured to process transactions using fiat currency via a custodian account associated with trading card 110. As is known in the art, a "custodian account" is typically associated with centralized trading platforms (e.g., Coinbase). ) or financial institution platforms (e.g., PayPal) The transaction card 110 includes a hardware storage device configured to perform steps (a) for conducting cryptocurrency transactions and (b) for conducting fiat transactions. Similar to system 100, instructions readable by the hardware storage device processor 114 and the mobile device processor 124, when read from memory connected to them by the respective processors, enable system 100 to perform multiple transactions, including performing step (a) to process cryptocurrency transactions and performing step (b) to process fiat transactions. Figure 4 In the typical process 300 outlined in the flowchart depicted in the diagram, steps (a) and (b) of system 300 are generally similar to steps (a) and (b) of system 100, respectively, but they differ in some respects.

[0039] For example, the difference between step 350 and step (b) is at least that the hardware storage device authorizes a fiat transaction by processing a transaction using funds stored in an escrow account. In some implementations, before performing step 350, step 340 or step (a) converts a certain amount of cryptocurrency associated with virtual wallet 129 into fiat currency and deposits it into the escrow account. For example, the escrow account may be an account associated with a known credit card provider (e.g., VISA, AMERICAN EXPRESS, MASTERCARD, etc.) or the card's bank issuer. Alternatively or additionally, in step 350, the hardware storage device moves a certain amount of cryptocurrency associated with the transaction from the card user's self-custodial account to the escrow account, and the custodian of the escrow account converts the appropriate amount of cryptocurrency into fiat currency and sends the converted fiat currency to the requesting recipient (e.g., a merchant or merchant processor) to complete the fiat currency transaction. Regarding Figure 3 In the example discussed, in step 250b, the escrow account holds funds in cryptocurrency and only converts them to fiat currency when a transaction request is made; however, the cryptocurrency changes hands from the user's escrow account to the escrow account before any fiat transaction is specified. In implementations, the software implementing this process may include the ability to provide a pop-up window or other notification when funds in the escrow account need to be replenished (e.g., on a mobile device), or the user may activate a setting to replenish a predetermined amount whenever the balance falls below another predetermined amount. Regarding... Figure 3 In the example discussed, in step 250a, the escrow account holds funds converted into fiat currency prior to the details of the specified transaction (i.e., time, amount, payee).

[0040] In contrast, regarding Figure 2In the example discussed, the user retains self-custodied cryptocurrency but has been pre-authorized via a smart contract to move the cryptocurrency from its self-custodial location to a location where it is accepted as cryptocurrency or converted into fiat currency, depending on the terms implemented by the transaction processor. As used herein, the term "smart contract" can refer to a public smart contract or an authorized smart contract (e.g., via ARCULUS). The platform's smart contract can contain platform-specific terminology. For example, a smart contract can specify terms for spending crypto assets, such as the amount of cryptocurrency that can be converted and the date range during which the transaction can occur. This allows fiat processing systems to query and confirm that sufficient funds are available according to the contract (and in a designated account) before initiating a transaction, similar to checking whether a user's fiat account has sufficient funds or credit balance to support the transaction. This provides retailers with a similar level of assurance as offered by holding cryptocurrency (or a set amount of fiat currency converted from cryptocurrency). From the user's perspective, the cryptocurrency is held in the user's custody and control until the actual transaction is initiated.

[0041] Figure 5A and Figure 5BAspects of exemplary user interfaces 500 and 502, which can be used in conjunction with methods described in this example, are depicted. A first aspect of user interface 500, used to specify the terms of a contract, displays and facilitates user input of a limit amount 520 (to be moved from self-custody to a different location), a username 530, and includes a radio button 540 selectable to enable spending, a radio button 542 for disabling spending, and a radio button 544 for setting a time range (for spending), as well as an interface section 546 for setting the time range during which spending is permitted. Although depicted in boxes for entering the number of days, hours, and minutes from the time range being set, in other embodiments, the time range setting may facilitate setting a start and end date / time or the time (described in days, hours, etc.) allowed from a future start date. Although not shown, smart contracts may specify other types of information, such as the recipient eligible to receive funds associated with the transaction, or the type of cryptocurrency eligible to be used in the underlying account, and are not limited thereto. The user interface may also depict one or more virtual cards 510, each of which may display a card number, username, and limit. For example, a user may have multiple virtual cards, each with different permissions. An on-chain cryptographic account address 515 (typically a long alphanumeric string) associated with the card may also be displayed on the user interface screen. Contract specification can be initiated by clicking icon 535, which may trigger additional screens (e.g., allowing the user to select the account associated with the cryptocurrency to be "deposited" onto the card, indicating final approval of the transaction, etc.). The features of the user interface are not limited to those shown and may include fewer or more functionalities and associated icons or fields. As shown, the interface also includes an exit icon 574 for exiting interface aspect 500.

[0042] A second aspect of the user interface 502 is configured to conduct on-chain transactions. This aspect may also depict a copy of a virtual card 510 with relevant information and an encrypted account address 515. This aspect of the user interface may provide a data input field 550 for listing the on-chain addresses of the recipients of funds. The on-chain address may be entered manually or populated from predetermined or preferred information (e.g., by selecting an icon 572 associated with a specific recipient, such as a coffee shop or other type of retailer). The on-chain address may also be entered via image capture of a code such as a QR code or barcode (i.e., via a webcam or mobile device camera), triggered by the user selecting icon 555. The user may enter the transaction amount in field 560. Clicking icon 570 initiates an on-chain transaction, which may trigger (e.g., for requesting user approval) the pop-up of one or more additional screens, not shown.

[0043] It should be noted that the virtual card depicted may or may not resemble a user's physical card, which can also execute permitted transactions according to the contract. To initiate a transaction with a physical card, a user can submit the physical card to an on-chain POS terminal. This initiates the population of the appropriate field in the user interface associated with the user's digital wallet, from which the user can then approve the transaction. If the user wishes to use a POS terminal other than an on-chain terminal, the card can be dual-provisioned to allow traditional debit or credit transactions associated with a standard debit or credit account, as described above.

[0044] Most of the sequences associated with cryptocurrency transactions are well-known, such as those defined by the Bitcoin protocol or BIP32 / 39, the "Bitcoin Improvement Protocol" update. In one implementation, these steps are implemented internally within a Java applet running on a secure element. The key is generated internally within the secure element, which can be, for example, an SLC37 secure microcontroller from Infineon Technologies, and the key is stored in cryptographic form in a secure keystone. The key does not leave the card and is known externally through its logical index, not its actual value. All signing and hashing operations are performed using the secure element. Essentially, the software embedded in the card manages all the cryptographic primitives for the cryptocurrency. A mobile applet on a mobile device (e.g., running on Android / iOS) sends the relevant high-level information to the card for processing. Once the mobile applet receives a signed transaction from the card, it establishes a communication session with the cryptocurrency exchange and sends the data to initiate the transaction.

[0045] In addition, Figure 6 In the typical process 600 outlined in the flowchart depicted, in step 1, user 610 initiates an agreement between user 610 and merchant 620 for a transaction of certain value (e.g., 40) The transaction corresponding to the transfer of currency. Those skilled in the art will understand from the description herein that the sequential numbering of the steps in typical process 600 is not intended to be restrictive, and that combinations of steps or substeps may be performed simultaneously or asynchronously.

[0046] In step 1, a fiat transaction is initiated by user 610 via hardware storage device 110 and card reader 140 of the fiat currency transaction system. For example, a connection is established via NFC or contactless interaction between card 110 and card reader 140. Alternatively, as described above, a cryptocurrency transaction is initiated by user 610 via hardware storage device 110 and user interface 126 of a cryptocurrency transaction processing device (e.g., mobile device 120). As described above, cryptocurrency transactions are out of sync with fiat transactions and may occur less frequently than fiat transactions. In an exemplary embodiment, the connection between the card reader and the card triggers a standard credit or debit card transaction, which is transmitted to mobile device 120 for authorization and fulfillment of the transaction. Additionally (as discussed in steps 2 through 7 below), mobile device 120 authorizes, based on a smart contract, to move cryptocurrency from the user's escrow account to a location accessible via an API by the transaction processor, or the funds may already be accessible in an escrow account associated with the transaction card. To facilitate the fiat transaction, the secure element 112 includes a payment module 10 configured to exchange payment information with a card reader to conduct the purchase transaction. The payment module 10 is connected to a portion of the secure element configured to process cryptocurrency transactions, causing the cold storage device 110 to establish a connection with the mobile device 120, and thus triggering the initiation of transaction approval (e.g., a one-off—or otherwise not every time a transaction is processed—contract approval call prior to the transaction, which, according to contract authorization, moves the cryptocurrency from self-custody to a location accessible to the transaction processor), and the remainder of the transaction (fiat or otherwise) may occur as described below.

[0047] In step 2, information related to the legal transaction initiated by user 610 is captured and parsed by acquirer / processor 630, which then submits an authorization request to transaction network administrator 640 (e.g., VISA). This step performed by acquirer / processor 630 incurs one or more fees totaling X for merchant 620. In step 3, transaction network administrator 640 routes the authorization request to issuer processor 650. In step 4, issuer processor 650 initiates collaborative authorization. It is worth noting that issuer processor 650 can be a different entity from or the same entity as the issuer. In one example, the issuer can be a card manufacturer (e.g., Arculus Holdings LLC), and the issuer processor can be a service provider contracted with the issuer.

[0048] In response, the issuer processor 650 queries the issuer 651, who confirms that the funds are sufficient to approve the fiat transaction (step 5). Upon receiving confirmation that the allocated funds are sufficient to complete the fiat transaction, the issuer processor 650 sends a communication approving the fiat transaction to the transaction network administrator 640 (step 5). Optionally, confirming that the allocated funds are sufficient to complete the fiat transaction includes: initiating a transfer of funds or releasing funds to the wallet issuer 660 (e.g., moving funds to a settlement wallet owned by the transaction network administrator managed by the issuer processor); and transferring the right to transfer funds to another party according to a smart contract or via a custodian account associated with the transaction card (as described above). These steps performed by the issuer processor 650 result in one or more fees totaling Y for the merchant 620. Furthermore, in step 6, the transaction network administrator 640 sends a communication conveying approval / authorization to the acquiring processor 630. These steps performed by the transaction network administrator 640 result in one or more fees totaling Z for the merchant 620. In step 7, the acquiring processor 630 notifies the merchant 620 of the approval decision, thereby notifying the merchant that they have received it. The amount is 40 - (X + Y + Z), and in step 8, the merchant 620 displays or communicates to the user 610 the completion or success of the legal transaction.

[0049] Although the invention has been described and illustrated herein with reference to specific embodiments, it is not intended to be limited to the details shown. Rather, various modifications in detail may be made within the scope and equivalents of the claims and without departing from the invention.

[0050] In particular, the systems, storage devices, and processing devices discussed herein can be used in combination for any type of transaction (not limited to financial transactions) and can include any type of public / private key authentication known in the art. For example, storage devices described herein can be paired with trading applications on mobile devices to conduct any type of transaction, including using FIDO. Standard authentication. Transaction initiation can take any form, such as: a push notification from a first device connected to the network triggering a second device connected to the network; providing a code (e.g., a QR code) displayed by the first device (or embodied in a physical form such as a printed document) and read by the second device; or it can be initiated by a user using a transaction application user interface on the device; or by a user using a storage device placed in the active proximity zone of a mobile device capable of exchanging information with the storage device. Initiation is not limited to any particular method. In some implementations, using the same or similar cryptographic primitives as described above, the card can also, or alternatively, serve as an authentication token for a hot wallet or other online account. In such implementations, the secure element in the card can exchange cryptographic credentials via a mobile device hosting the online account. This exchange may occur during initial setup. For example, a PGP key exchange between two devices can be performed via a applet. A simple identification token matching the token acquired during initial registration can then be verified via an encrypted channel during subsequent transactions. A card configured in this way can be used as a standalone authentication factor but does not sign any cryptocurrency transactions because it does not maintain keys. Keys can be combined across multiple platforms through additional software interactions.

Claims

1. A trading system configured for conducting cryptocurrency transactions, the trading system comprising: A hardware storage device having an integrated circuit including at least one secure element, the at least one secure element having a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element wireless or contact interface, the at least one secure element digital memory module containing instructions readable by the at least one secure element processor, the instructions being used to cause the at least one secure element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation; A cryptocurrency transaction processing device comprising: a user interface including a virtual wallet having a first cryptocurrency address associated therewith; and a wireless or contact interface for the processing device. And a communication interface configured to connect to a cryptocurrency trading platform server on a global communication network and configured to send signed transaction information to the trading platform server to initiate a cryptocurrency transaction; as well as A fiat currency trading system for processing fiat currency transactions, the fiat currency trading system including at least one payment terminal and an application processing interface (API) configured to process the fiat currency transactions according to a smart contract, the smart contract including machine-readable instructions stored in a computer memory accessible by the cryptocurrency trading network, the machine-readable instructions being used to cause an issuer associated with the smart contract to process a cryptocurrency transaction sufficient to satisfy the fiat currency transaction after receiving an instruction from the cryptocurrency trading network triggered by the fiat currency transaction initiated at the at least one payment terminal.

2. The transaction system according to claim 1, wherein, The hardware storage device includes a transaction card, and the payment terminal includes a card reader, and the instructions contained in the at least one secure element digital memory module include instructions for performing the following steps: a) Establish a connection between the hardware storage device and the cryptocurrency transaction processing device using the secure element's wireless or contact interface that communicates with the processing device wirelessly or via contact interface; receive information from the processing device; retrieve the private key from the digital memory; define a signature using the private key; check the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key; sign the transaction; and send the signed transaction information to the cryptocurrency transaction processing device to perform a cryptocurrency transaction. as well as b) Performing fiat transactions by establishing a connection with the card reader wirelessly or via contact interaction and authorizing the cryptocurrency transactions processed via the API according to the smart contract.

3. The transaction system according to claim 2, wherein, Step (a) includes: the hardware storage device causing the at least one secure element to perform a signature operation associated with the transfer of the right to transfer a specified amount of cryptocurrency to a transferee, the transferee having a second cryptocurrency address associated therewith, and step (b) includes: the API approving the fiat transaction after confirming that the funds allocated according to the execution of the smart contract are sufficient to complete the fiat transaction, and the transferee sending an appropriate amount to the requesting recipient to complete the fiat currency transaction after receiving approval from the API.

4. The system according to claims 1 to 3, wherein, The at least one security element also includes one or more of a payment module, a magnetic stripe, and a code configured to be read by the card reader to conduct the fiat currency transaction.

5. The system according to claims 1 to 3, wherein, The cryptocurrency transaction processing equipment includes mobile devices.

6. The system according to claim 5, wherein, The mobile device includes one of a smartphone, tablet, or laptop computer.

7. The transaction system according to claim 1, wherein, The machine-readable instructions include instructions for converting an appropriate amount of cryptocurrency associated with the virtual wallet into fiat currency to fulfill the fiat currency transaction.

8. A trading system configured to perform multiple transactions, the trading system comprising: A transaction card includes a hardware storage device having an integrated circuit including at least one security element. The at least one security element has a security element processor, a security element digital memory module including a cryptographic module, and at least one security element wireless or contact interface. The at least one security element digital memory module contains instructions readable by the at least one security element processor, which are used to cause the at least one security element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation. A cryptocurrency transaction processing device, comprising: a user interface including a virtual wallet; and a wireless or contact interface for the processing device; And a communication interface configured to connect to a cryptocurrency trading platform server on a global communication network and configured to send signed transaction information to the trading platform server to initiate a cryptocurrency transaction; A fiat currency transaction system for processing transactions using fiat currency via a custodian account associated with the transaction card; The instructions included in the hardware storage device include instructions for performing the following steps: (a) Establishing a connection between the hardware storage device and the cryptocurrency transaction processing device by using the secure element's wireless or contact interface that communicates with the processing device wirelessly or contactlessly, receiving information from the processing device, retrieving the private key from the digital memory, performing a signature operation using the private key, checking the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signing the transaction, and sending the signed transaction information to the cryptocurrency transaction processing device to perform a cryptocurrency transaction; as well as (b) To conduct legal transactions by means of establishing a connection with the card reader of the fiat currency transaction system via wireless or contact interaction, and authorizing transactions using funds stored in the escrow account; in: i) Performing step (a) causes a certain amount of cryptocurrency associated with the virtual wallet to be converted into fiat currency, and the converted fiat currency to be deposited into the escrow account; or ii) Performing step (b) causes the cryptocurrency of the transfer amount associated with the transaction to be moved from the card user's self-custodial account to the custodial account, and step (b) includes: the custodian of the custodial account (A) providing the cryptocurrency of the transaction amount to the requesting recipient, or (B) converting the cryptocurrency of the transaction amount into fiat currency and sending the converted fiat currency to the requesting recipient to complete the fiat currency transaction.

9. The system according to claim 8, wherein, The at least one security element further includes one or more of a payment module, a magnetic stripe, or a code configured to be read by the card reader to conduct the fiat currency transaction.

10. The system according to claims 8 to 9, wherein, The cryptocurrency transaction processing equipment includes mobile devices running application software.

11. The system according to claim 10, wherein, The mobile device includes one of a smartphone, tablet, or laptop computer.

12. The system according to claims 8 to 11, wherein: Before or during step (b), step (a) causes a certain amount of cryptocurrency associated with the virtual wallet to be converted into fiat currency and the converted fiat currency to be deposited into the escrow account.

13. The system according to claims 8 to 11, wherein, Step (b) causes a certain amount of cryptocurrency associated with the transaction to be moved from the card user's self-custodial account to the custodial account according to a smart contract, the smart contract including machine-readable instructions stored in a computer memory accessible by the cryptocurrency transaction network, and step (b) includes: the custodian of the custodial account sending the cryptocurrency of the transaction amount or the fiat currency converted from the cryptocurrency of the transaction amount to the requesting recipient to complete the fiat currency transaction.

14. A hardware storage device having an integrated circuit including at least one secure element, the at least one secure element having a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element wireless interface, the at least one secure element digital memory module containing instructions readable by the at least one secure element processor, the instructions being used to cause the at least one secure element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation.

15. The hardware storage device according to claim 14, wherein, The at least one security element digital memory module includes instructions readable by the at least one security element processor, the instructions being used to cause the at least one security element to perform the following steps in response to receiving information from a cryptocurrency transaction processing device linked to the at least one security element via a wireless or contact interface: (a) retrieving the private key from the digital memory, defining a signature using the private key, checking the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signing the transaction, and sending the signed transaction information to the cryptocurrency transaction processing device; (b) Performing fiat transactions by establishing a wireless connection or contact interaction with a card reader of a fiat currency transaction system that includes an application processing interface (API), and authorizing cryptocurrency transactions processed via the API according to a smart contract, the smart contract including machine-readable instructions stored in a computer memory accessible by the cryptocurrency transaction network, the machine-readable instructions being used to cause an issuer associated with the smart contract to process cryptocurrency transactions sufficient to satisfy the fiat currency transaction.

16. The hardware storage device according to claim 15, wherein, Step (a) includes causing the at least one secure element to perform a signature operation associated with transferring the right to transfer a specified amount of cryptocurrency associated with the smart contract to a transferee having a second cryptocurrency address, and step (b) includes: the API approving the fiat transaction after confirming that the funds allocated according to the execution of the smart contract are sufficient to complete the fiat transaction, and the API sending the approval to the transferee, the approval being configured to cause the transferee to send the funds corresponding to the fiat transaction in the form of cryptocurrency or cryptocurrency converted to fiat currency to the requesting recipient to complete the fiat currency transaction.

17. The hardware storage device according to claims 14 to 16, wherein, The hardware storage device includes one or more of a payment module, a magnetic stripe, or a code configured to be read by the card reader to conduct the fiat currency transaction.

18. The hardware storage device according to claims 14 to 17, wherein, The cryptocurrency transaction processing equipment includes mobile devices running application software.

19. The hardware storage device according to claim 18, wherein, The mobile device includes one of a smartphone, tablet, or laptop computer.

20. A transaction card comprising a hardware storage device having an integrated circuit including at least one security element, the at least one security element having a security element processor, a security element digital memory module including a cryptographic module, and at least one security element wireless or contact interface, the at least one security element digital memory module containing instructions readable by the at least one security element processor, the instructions being configured to cause the at least one security element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation.

21. The transaction card according to claim 20, wherein, The at least one secure element digital memory module contains instructions readable by the at least one secure element processor, the instructions causing the at least one secure element to perform the following steps in response to receiving information from a cryptocurrency transaction processing device linked to the at least one secure element via a wireless or contact interface: (a) retrieving the private key from the digital memory, performing a signature operation using the private key, checking the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signing the transaction, and sending the signed transaction information to the cryptocurrency transaction processing device; and step (b) performing a fiat transaction by establishing a wireless connection or contact interaction with a card reader of the fiat currency transaction system and authorizing transactions processed using funds stored in an escrow account associated with the transaction card.

22. The transaction card according to claim 21, wherein, Before performing step (b), step (a) converts a certain amount of cryptocurrency associated with the virtual wallet into fiat currency and deposits it into the escrow account; Alternatively, step (b) may be performed to move a certain amount of cryptocurrency associated with the transaction from the card user's custodial account to the custodial account, and step (b) may include: the custodian of the custodial account sending an appropriate amount of cryptocurrency to the requesting recipient, or converting the appropriate amount of cryptocurrency into fiat currency and sending the converted fiat currency to the requesting recipient to complete the fiat currency transaction.

23. The transaction card according to claims 20 to 22, wherein, The hardware storage device includes one or more of a payment module, a magnetic stripe, or a code configured to be read by the card reader to conduct the fiat currency transaction.

24. The transaction card according to claims 20 to 23, wherein, The cryptocurrency transaction processing equipment includes mobile devices running application software.

25. The transaction card according to claim 24, wherein, The mobile device includes one of a smartphone, tablet, or laptop computer.

26. A transaction system configured to conduct cryptocurrency transactions to satisfy fiat transactions, the transaction system comprising: A cryptocurrency transaction processing system configured to send instructions to nodes in a cryptocurrency transaction network to initiate cryptocurrency transactions; as well as A fiat currency trading system for processing fiat currency transactions, the fiat currency trading system including an application processing interface (API) configured to process the fiat currency transactions according to a smart contract, the smart contract including machine-readable instructions stored in a computer memory accessible by the cryptocurrency trading network, the machine-readable instructions being used to cause an issuer associated with the smart contract to process a cryptocurrency transaction sufficient to satisfy the fiat currency transaction.

27. The transaction system according to claim 26, wherein, The cryptocurrency transaction processing system also includes: A cryptocurrency transaction processing device comprising: a user interface including a virtual wallet having a first cryptocurrency address associated therewith; an NFC or contact interface for the processing device; and a communication interface configured to connect to a transaction platform server of the cryptocurrency transaction network on a global communication network and configured to send signed transaction information to the transaction platform server to initiate the cryptocurrency transaction.

28. The transaction system according to claim 27, wherein, The cryptocurrency transaction processing system also includes: A hardware storage device configured to perform a signing operation and send the signed transaction information to the virtual wallet via a communication protocol other than the global communication network.

29. The transaction system according to claim 28, wherein, The hardware storage device includes at least one secure element, the at least one secure element having a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element wireless or contact interface, the at least one secure element digital memory module containing instructions readable by the at least one secure element processor, the instructions being used to cause the at least one secure element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform the signature operation.

30. The transaction system according to claim 29, wherein, The hardware storage device includes a transaction card configured to perform the following steps: a) Establish a connection between the hardware storage device and the cryptocurrency transaction processing device using the secure element wireless or contact interface that communicates with the processing device via NFC or contact interface, receive information from the processing device, retrieve the private key from the digital memory, define a signature using the private key, check the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, sign the transaction, and send the signed transaction information to the cryptocurrency transaction processing device to perform a cryptocurrency transaction; as well as b) Performing fiat transactions by establishing a wireless connection or contact interaction with the card reader of the fiat currency transaction system and authorizing cryptocurrency transactions processed via the API according to the smart contract.

31. The transaction system according to claim 30, wherein, Step (a) includes: the hardware storage device causing the at least one secure element to perform a signature operation associated with the transfer of the right to transfer a specified amount of cryptocurrency to a transferee, the transferee having a second cryptocurrency address associated therewith, and step (b) includes: the API approving the fiat transaction after confirming that the funds allocated according to the execution of the smart contract are sufficient to complete the fiat transaction, and the transferee, upon receiving approval from the API, converting the funds corresponding to the fiat transaction from cryptocurrency to fiat currency and sending an appropriate amount of the converted fiat currency to the requesting recipient to complete the fiat currency transaction.

32. A computer-implemented method for conducting cryptocurrency transactions to satisfy fiat transactions, the method comprising: Instructions are sent via computer to nodes of a cryptocurrency trading network to initiate a cryptocurrency transaction from a first cryptocurrency address associated with a user's self-custodied account to a second cryptocurrency address, according to a smart contract. The cryptocurrency transaction transfers the right to transfer a specified amount of cryptocurrency to a transferee according to the smart contract. as well as Fiat currency transactions are processed via a computer running an Application Processing Interface (API), which is configured to process the fiat currency transaction by approving it after confirming that the funds allocated according to the execution of the smart contract are sufficient to complete the fiat currency transaction, and the transferee, upon receiving approval from the API, sends an appropriate amount of funds corresponding to the fiat currency transaction as cryptocurrency to the requesting recipient, or converts the appropriate amount of funds into cryptocurrency and sends the converted cryptocurrency to the requesting recipient to complete the fiat currency transaction.

33. A method for conducting cryptocurrency transactions, the method comprising: a) Provide a trading system, the trading system comprising: A hardware storage device having an integrated circuit including at least one secure element, the at least one secure element having a secure element processor, a secure element digital memory module including a cryptographic module, and at least one secure element wireless or contact interface, the secure element digital memory module further including a private key stored in the secure element digital memory module in an encrypted state; A cryptocurrency transaction processing device comprising: a user interface including a virtual wallet having a first cryptocurrency address associated therewith; a wireless or contact interface for the processing device; and a communication interface; A fiat currency transaction system for processing fiat currency transactions, the fiat currency transaction system including at least one payment terminal and an application processing interface (API) configured to process the fiat currency transactions according to a smart contract, the smart contract including machine-readable instructions stored in a computer memory accessible by the cryptocurrency transaction network; b) Authorizing cryptocurrency transactions via the API according to the authorization of the smart contract, the authorized cryptocurrency transactions including the following steps: i) Establish a connection between the wireless or contact interface of the hardware storage device and the wireless or contact interface of the cryptocurrency transaction processing device; ii) The secure element processor of the hardware storage device receives information from the processing device, retrieves the private key from the digital memory, defines a signature using the private key, checks the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signs the transaction, and sends the signed transaction information to the cryptocurrency transaction processing device; and iii) The cryptocurrency transaction processing device connects to the transaction platform server of the cryptocurrency transaction network on the global communication network via the communication interface, and sends the signed transaction information to the transaction platform server to initiate the authorized cryptocurrency transaction, wherein the authorized cryptocurrency transaction includes the transfer of the right to transfer a specified amount of cryptocurrency from the first cryptocurrency address to the transferee according to the smart contract, and the transferee has a second cryptocurrency address associated with it. c) Initiating the fiat currency transaction at the at least one payment terminal, and d) The issuer associated with the smart contract processes the transfer authorized by the smart contract, including: the API approving the fiat transaction after confirming that the funds allocated according to the execution of the smart contract are sufficient to complete the fiat transaction, and the transferee transferring an appropriate amount from the first cryptocurrency address to the requesting recipient to complete the fiat currency transaction after receiving approval from the API.

34. The method according to claim 33, wherein, The method includes converting the appropriate amount of cryptocurrency from the first cryptocurrency address into fiat currency before transferring it to the requesting recipient.

35. The method according to claim 33, wherein, The appropriate amount is transferred as cryptocurrency from the first cryptocurrency address to the requesting recipient.

36. The method according to claim 33, wherein, Step b is executed asynchronously with steps c and d.

37. The method according to claim 33, wherein, Step b is executed as part of the same workflow as steps c and d.

38. A method for conducting cryptocurrency transactions, the method comprising: a) Provide a trading system, the trading system comprising: A transaction card includes a hardware storage device having an integrated circuit including at least one security element. The at least one security element has a security element processor, a security element digital memory module including a cryptographic module, and at least one security element wireless or contact interface. The at least one security element digital memory module contains instructions readable by the at least one security element processor, which are used to cause the at least one security element to store a private key in an encrypted state in the digital memory, generate a public key using the private key, and perform a signature operation. A cryptocurrency transaction processing device includes: a user interface containing a virtual wallet; a wireless or contact interface for the processing device; and a communication interface configured to connect to a transaction platform server of a cryptocurrency transaction network on a global communication network and configured to send signed transaction information to the transaction platform server to initiate a cryptocurrency transaction. A fiat currency transaction system for processing transactions using fiat currency via a custodian account associated with the transaction card; (b) Establishing a connection between the hardware storage device and the cryptocurrency transaction processing device using the secure element's wireless or contact interface that communicates with the processing device, receiving information from the processing device, retrieving the private key from the digital memory, performing a signing operation using the private key, checking the chain associated with the public key to confirm that the signature conforms to a public key signature that can only be generated using the private key, signing the transaction, and sending the signed transaction information to the cryptocurrency transaction processing device to perform a cryptocurrency transaction; and (c) To conduct legal transactions by means of establishing a connection with the card reader of the fiat currency transaction system via wireless or contact interaction, and authorizing transactions using funds stored in the escrow account; in: i) Performing step (b) causes a certain amount of cryptocurrency associated with the virtual wallet to be converted into fiat currency, and the converted fiat currency to be deposited into the escrow account; or ii) Performing step (c) causes the cryptocurrency of the transfer amount associated with the transaction to be moved from the card user's self-custodial account to the custodial account, and step (c) includes: the custodian of the custodial account (A) providing the cryptocurrency of the transaction amount to the requesting recipient, or (B) converting the cryptocurrency of the transaction amount into fiat currency and sending the converted fiat currency to the requesting recipient to complete the fiat currency transaction.

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