Systems and methods for use in connection with token redemption

Abstract

Systems and methods for redeeming tokens are provided. One example computer-implemented method includes receiving, by a processing network, from a first institution a request for approval for a user to redeem a token and looking up a data structure escrow address associated with the token redemption. The method also includes approving the redemption in response to the data structure address indicating a token, where the institution transfers value associated with the token to the user.

Description

[Technical Field]

[0001] The present disclosure is generally directed to systems and methods for use in using data structures for tokens and facilitating the redemption of tokens through the data structures.

[0002] CROSS-REFERENCE TO RELATED APPLICATIONS This application claims the benefit of and priority to U.S. Provisional Patent Application No. 63 / 405,845, filed September 12, 2022, the entire disclosure of which is incorporated herein by reference. [Background technology]

[0003] This section provides background information related to the present disclosure that is not necessarily prior art.

[0004] Cryptocurrencies are known to be exchanged as a form of currency and do not rely on any central authority for holding or maintaining the cryptocurrency. Furthermore, stablecoins are cryptocurrencies whose value is pegged to the value of another currency, commodity, or financial instrument. [Brief explanation of the drawings]

[0005] The drawings of the present disclosure are only for purposes of illustrating selected embodiments (not all possible embodiments) and are not intended to limit the scope of the present disclosure.

[0006] [Figure 1] FIG. 1 illustrates an example system of the present disclosure suitable for use in redeeming tokens. [Figure 2] FIG. 2 is a block diagram illustrating an example of a computing device that can be used in the system of FIG. 1. [Figure 3] FIG. 2 illustrates an example of a token redemption method that may be used in conjunction with the system of FIG. 1.

[0007] Corresponding reference characters indicate corresponding parts throughout the various views. DETAILED DESCRIPTION OF THE INVENTION

[0008]

[0013] Exemplary embodiments are more fully disclosed with reference to the accompanying drawings, in which:

[0014] The disclosure and specific examples contained in this disclosure are intended for purposes of illustration only and are not intended to limit the scope of the disclosure.

[0009] Certain tokens can be associated with value, and the tokens can be exchanged for products (e.g., goods or services) or other currencies (e.g., U.S. dollars). One example of a token is a stablecoin, whose value is tied to the value of another currency, commodity, or financial instrument. Thus, a stablecoin may have a value of $50 USD, and the stablecoin can be exchanged for common currencies, commodities, or financial instruments. Furthermore, technical deficiencies can limit the convertibility and / or usability of such tokens (e.g., stablecoins) for various reasons, and the usability of the tokens can be limited by cumbersome, prohibitive, and / or burdensome technical aspects.

[0010] Uniquely, the disclosed systems and methods provide for the redemption of tokens (e.g., stablecoins, etc.) at one or more locations (e.g., institutions, etc.), which may be associated with a processing network. In this manner, the processing network is enhanced to include specific data structures associated with the redemption, the tokens are transferred to the data structures for confirmation, and a separate funds transfer associated with the tokens is layered onto payment network messaging. Thus, such token redemptions utilize the enhanced processing network in a manner that enhances the usability and / or availability of the tokens to users.

[0011] 1 illustrates an exemplary system 100 in which one or more aspects of the present disclosure may be implemented. Although system 100 is shown in one arrangement, other embodiments may include portions of system 100 (or other portions) arranged in other ways, as dictated by privacy considerations and / or requirements, etc.

[0012] The illustrated system 100 generally includes a processing network 102, two financial institutions 104A and 104B (e.g., banks, etc.), a user computing device 106 associated with a user 108 (who may or may not be associated with institution 104A), a token issuer 110 (e.g., a stablecoin issuer, etc.), and a clearing system 112, each coupled to one or more networks. The networks (represented by lines or arrowed lines in FIG. 1 ) may include, but are not limited to, one or more local area networks (LANs), wide area networks (WANs) (e.g., the Internet), mobile networks, virtual networks, and / or other suitable public and / or private networks capable of facilitating communication between two or more of the portions depicted in FIG. 1 , as well as combinations thereof.

[0013] In this example embodiment, processing network 102 is configured to provide coordination regarding the redemption of tokens (e.g., stablecoins (e.g., USDC, etc.)) submitted by users 108 via computing devices 106. Processing network 102 may include, for example, a MASTERCARD, VISA, or AMERICAN EXPRESS-based processing network, or other suitable processing network.

[0014] Each of the institutions 104A, 104B may include a financial institution, such as a bank, that is configured to participate in the transfer of funds between the accounts. The institutions 104A, 104B are configured to issue one or more accounts to users, such as user 108, and other entities, such as token issuer 110. The accounts may include, but are not limited to, debit accounts, savings accounts, checking accounts, and / or payment accounts (e.g., credit accounts, debit accounts, prepaid accounts, etc.).

[0015] In this example embodiment, the token issuer 110 is configured to issue tokens, such as stablecoins, cryptocurrencies, etc., that can be transferred by users (e.g., user 108, etc.) for exchange for products (e.g., goods, services, etc.) and / or fiat currencies. Fiat currencies include government-backed currencies, such as the US dollar (USD$), the euro, etc. Typically, each token includes a unique sequence of data. Tokens can have a fixed value and can be tied to a fiat currency, commodity, or other financial instrument. For example, a token can have a static “value” of $50 USD. Note that in various embodiments, other denominations, static or otherwise, can be associated with other tokens. Such tokens can provide static value or stability by maintaining a reserve asset as collateral or through an algorithmic formula that controls supply.

[0016] The clearing system 112 of system 100 is shown as part of the processing network 102. The clearing system 112 is configured to clear and settle transactions initiated via the processing network 102, e.g., funds being transferred between institutions. Note that in other embodiments, the clearing system 112 may be separate from the processing network 102. Additionally, system 100 also includes a data structure 114, which may be an immutable data structure, such as a blockchain structure (e.g., managed or controlled by the processing network 102, a third party, etc.). The data structure 114 is organized by addresses, and data is stored based on blocks and / or their addresses. The data structure 114 may be part of the processing network 102, as in this embodiment, or may be separate therefrom and / or managed by the processing network 102, the token issuer 110, etc.

[0017] Based on the above, a user 108 who holds or possesses a token associated with a particular value (e.g., a stablecoin, cryptocurrency, etc.) may wish to redeem the token for funds in local or fiat currency via institution 104A. That is, institution 104A may have issued an account to user 108, and user 108 may wish to redeem the token for funds equivalent to the value of the token deposited in the account. In this regard, institution 104A is configured to redeem the token via processing network 102, and institution 104A is configured to instruct user 108 to transfer the token (e.g., the token, an amount associated with the token, etc.) to data structure 114 (e.g., as an escrow agreement and / or associated with the escrow agreement) at a particular address therein (i.e., an escrow address). The escrow address is a location on data structure 114 that may be managed by processing network 102 and / or token issuer 110.

[0018] In response, the user 108, via the computing device 106, transfers or posts the tokens (e.g., an amount associated with the tokens) to the data structure 114 at the escrow address. In connection with the user 108 transferring the tokens, the authority 104A is configured to initiate a transaction for redemption of the tokens (or value associated with the tokens). In particular, the authority 104A is configured to compile an authorization request consistent with the redemption (e.g., compliant with the ISO 8583 standard) and submit the authorization request to the processing network 102. The authorization request may include a data element indicating the redemption of the tokens (e.g., a data element including an indication such as TOKEN_REDEMPTION_REQUEST), or the authorization request may include new optional data elements present only in connection with the redemption of the tokens.

[0019] The processing network 102 is configured to receive an authorization request from the institution 104A, recognize the request for token redemption (e.g., based on the inclusion of a data element indicating the token redemption), and interact with the data structure 114 to check the token and / or associated value or balance at the escrow address (e.g., based on information included in the authorization request). In response to checking that the value / tokens are to be posted to the escrow address, the processing network 102 is configured to approve the transaction, and an authorization response (e.g., conforming to the ISO 8583 standard) is compiled and transmitted to the institution 104A. The processing network 102 is further configured to alert the token issuer 110 regarding the approval of the transaction to redeem the token. In response, the token issuer 110 is configured to burn the submitted token (e.g., stablecoin) to the data structure 114 at the escrow address. It should be understood that in this embodiment, the escrow address is a "one-way" address only, and only the token issuer 110 will be allowed to access the escrow address once the token is posted. That is, any tokens in this escrow address as indicated by the processing network 102 and / or authorization will be written. The above can also be automated by smart contracts, which can optionally be imposed to increase the efficiency of the above interactions.

[0020] The institution 104A is then configured to submit the transaction (i.e., the redemption transaction) along with the authorization to the processing network 102 for settlement (e.g., as part of a settlement file, etc.). In this regard, the institution 104A is configured to disburse funds to the user 108 based on the processing network's approval. The processing network 102 (more specifically, the clearing system 112 in this example) is configured to settle the transaction between the institution 104A and the institution 104B, where the institution 104B is the issuer of the account for the token issuer 110. In this manner, the clearing system 112 directs funds from the institution 104B to the institution 104A (possibly along with other transactions), thereby generating two settlement amounts: a first settlement amount paid from the processing network 102 to the institution 104A to enable the redemption of the tokens, and a second settlement amount paid from the institution 104B to the processing network 102 (on behalf of the token issuer 110) to redeem the tokens. The token issuer 110 is then configured to make a payment to (or authorize the institution 104B to debit) the account of) the institution 104B, thereby providing for a transfer from the token issuer's 110 account at institution 104B to the user's 108 account at institution 104A.

[0021] Once a transaction is settled, the associated debt is resolved.

[0022] 1 shows two institutions 104A and 104B, in other embodiments, multiple institutions may be included in system 100. Furthermore, note that the clearing and settlement of the transaction for the exchange of tokens may be combined with one or more other transactions (whether or not related to the exchange) between institutions 104A and 104B and other institutions.

[0023] FIG. 2 illustrates an exemplary computing device 200 for use in the system 100 of FIG. 1. The computing device 200 may include, for example, one or more servers, workstations, personal computers, laptops, tablets, smartphones, etc. Furthermore, the computing device 200 may include a single computing device or multiple computing devices located proximately or distributed across geographic locations, so long as the computing device is specifically configured to function as disclosed herein. In the example embodiment of FIG. 1, the processing network 102, the authority 104A-B, the user computing devices, the token issuer, the clearing system 112, and the data structure 114 may each be considered to be, include, or be implemented within a computing device consistent with the computing device 200 coupled to (and capable of communicating with) one or more networks of the system 100. However, the system 100 should not be construed as limited to the disclosed computing device 200, as different computing devices and / or arrangements of computing devices may be used in other embodiments. Furthermore, different components and / or arrangements of components may be used within other computing devices.

[0024] 2, exemplary computing device 200 includes a processor 202 and memory 204 coupled to (in communication with) processor 202. Processor 202 may include one or more processing units (e.g., in a multi-core configuration, etc.). For example, processor 202 may include, without limitation, a central processing unit (CPU), a microcontroller, a reduced instruction set computer (RISC) processor, an application specific integrated circuit (ASIC), a programmable logic device (PLD), a gate array, and / or any other circuit or processor capable of performing the functions of the present disclosure.

[0025] The memory 204 of the present disclosure is one or more devices that allow for the storage and retrieval of data, instructions, etc. The memory 204 may include one or more computer-readable media, such as, but not limited to, dynamic random access memory (DRAM), static random access memory (SRAM), read-only memory (ROM), erasable programmable read-only memory (EPROM), solid-state devices, flash drives, CD-ROMs, USB sticks, floppy disks, tapes, hard disks, and / or any other type of volatile or non-volatile physical or tangible computer-readable media. The memory 204 may be configured to store, but is not limited to, token addresses, accounting records, account balances, and / or other types of data (and / or data structures) suitable for use in the present disclosure.

[0026] Further, in various embodiments, computer-executable instructions may be stored in memory 204 for execution by processor 202, which causes processor 202 to perform one or more functions of the present disclosure. As such, memory 204 is a physical, tangible, and non-transitory computer-readable storage medium. Such instructions often improve the efficiency and / or performance of processor 202 and / or other computer system components configured to perform one or more of the various operations of the present disclosure (e.g., one or more of the operations described in the present disclosure). By performing such operations (or in conjunction with them), computing device 200 may be transformed into a special-purpose computing device. Note that memory 204 may include a variety of different memories, each of which is implemented in one or more functions or processes of the present disclosure.

[0027] In the exemplary embodiment, computing device 200 also includes a presentation unit 206 and an input device 208 .

[0028] Presentation unit 206 is coupled to (and in communication with) processor 202 (although it should be noted that computing device 200 may include other output devices in addition to presentation unit 206). Presentation unit 206 may output information visually or audibly, e.g., to a user of computing device 200. Various interfaces may also be displayed on computing device 200 (particularly on presentation unit 206) to display particular information associated therewith. Presentation unit 206 may include, but is not limited to, a liquid crystal display (LCD), a light emitting diode (LED) display, an organic LED (OLED) display, an "electronic ink" display, a speaker, or other presentation unit. In some embodiments, presentation unit 206 may include multiple devices.

[0029] Input device(s) 208, as further described herein, receives input from a user 112 of computing device 200 (i.e., user input), such as, for example, input to redeem tokens. Input device(s) 208 may include a single input device or multiple input devices. Input device(s) 208 are connected to (and communicate with) processor 202 and may include, for example, but are not limited to, one or more of a keyboard, a pointing device, a mouse, a camera, a touch-sensitive panel (e.g., a touchpad or touchscreen), other computing devices, and / or an audio input device. In various exemplary embodiments, a touchscreen, such as that included on a tablet, smartphone, or similar device, may operate as both presentation unit 206 and input device 208.

[0030] The illustrated computing device 200 further includes a network interface 210 coupled to (and in communication with) the processor 202 and the memory 240. The network interface 210 may include, but is not limited to, a wired network adapter, a wireless network adapter (e.g., an NFC adapter, a Bluetooth adapter, etc.), a mobile network adapter, or other device capable of communicating with one or more different networks or other devices described in this disclosure. In some exemplary embodiments, the computing device 200 may include the processor 202 and one or more network interfaces included within the processor 202.

[0031] 3 illustrates an exemplary method 300 for use in redeeming tokens. The exemplary method 300 is described as being implemented on system 100, with further reference to computing device 200. However, the method should not be construed as being limited to system 100 or computing device 200, as the method may be implemented on other systems and / or computing devices. Furthermore, the systems and computing devices of the present disclosure should not be understood as being limited to exemplary method 300.

[0032] First, note that the token issuer 110 has issued a number of tokens, each of which is associated with some static or dynamic value, and that the user 108 possesses a token, which was issued to them by the token issuer.

[0033] To redeem tokens for funds deposited in an account issued to the user 108 by the institution 104A, the user 108 requests redemption of the tokens from the institution 104A via the computing device 106 (e.g., by generating and submitting a request, etc.) at S302. The request may be submitted via an interface associated with the institution 104A's website or application (e.g., displayed to the user 108 on the computing device 106). In this regard, the request may include, for example, an indication of the token the user 108 wishes to redeem (e.g., as distinguished from other tokens the user 108 has / possesses), such as an amount, an identifier of the token issuer 110, and an identifier that distinguishes the token from the user's other tokens (and / or other tokens issued by the token issuer 110, etc.). In response, at S304, institution 104A instructs user 108 to transfer the token to data structure 114, specifically to a specific address in data structure 114 (ie, the escrow address).

[0034] Then, at S306, the user 108, via the computing device 106, transfers the token to the data structure 114 at the escrow address (e.g., via an interface associated with the website or application of the institution 104A or in other manners).

[0035] 3, the institution 104A then compiles S308 an authorization request (e.g., further in response to the redemption request, etc.) for the transaction of funds to the user's account. The authorization request may be an ISO 8583 standard message and may include (e.g., without limitation) an account number for the user 108, the amount of the transfer (i.e., the value of the token to be redeemed (one or more fees may be imposed)), an identifier for the token issuer 110, an escrow address for the token, an indicia of the token (e.g., a symbol for the token (e.g., USDC (USD Coin), EUROC (EURO Coin), Tether USDT, etc.), etc.), (e.g., what is included in one or more particular data elements of the authorization request (e.g., standard data elements, optional data elements, etc.)), etc. The authorization request also includes an indication of the request to redeem the token, thereby distinguishing the authorization request from a conventional authorization request (e.g., the account number for the token issuer 110 may be omitted, along with other data). At S310, the authorization request is transmitted to the processing network 102.

[0036] Upon receiving the authorization request, the processing network 102 recognizes the request as a redemption request (based on the content of the data elements in the authorization request) and verifies at S312 that the token is included at the escrow address in the data structure 114. If the existence and value of the token are confirmed to be in line with the authorization request amount, the processing network 102 authorizes the transaction. In this regard, the processing network 102 compiles an authorization response at S314, which includes the transaction amount, the token issuer 110 account number, and / or an identifier for the institution 104B. In this example, the processing network 102 includes or maintains records of token issuer accounts (including the token issuer 110 account). Thus, the processing network 102 identifies the token issuer 110 account to be used in the transaction from this record based on the information included in the authorization request (e.g., the token issuer 110 identifier, token designation / symbol, etc.). The authorization response is transmitted to the institution 104A at S316.

[0037] Simultaneously, or before or after this, at S318, the processing network 102 instructs the token issuer 110 to write the token. More specifically, in this exemplary embodiment, the processing network instructs the token issuer 110 to burn a specific amount of tokens from the escrow address for the token in the data structure 114 (e.g., "burn [x] amount of [token symbol] from escrow contract"). In response, the token issuer 110 writes the token in the data structure 114 (e.g., the amount of tokens associated with the request / transaction) at S320. In some embodiments, the writing of the token can be automatic following an instruction from the processing network 102 (e.g., the writing of the token can be an automated operation, etc.). Further, in some embodiments, the token issuer 110 can delegate the writing of the token to the processing network 102, which can notify the token issuer of the write instruction (or its absence) and can write the token (S320).

[0038] In relation to the above, after approval, the transaction is cleared and settled by and between institutions 104A and 104B via processing network 102, and funds are transferred from institution 104B to institution 104A. The funds are debited from an account at institution 104B issued to the token issuer 110 and credited to the user's 108 account at institution 104A.

[0039] In view of the above, the disclosed systems and methods provide for the redemption of tokens, such as stablecoins, through the introduction of data structures and / or processing network improvements, such that the redemption of the tokens utilizes the improved processing network in a manner that enhances the usability and / or availability of the tokens to users.

[0040] As noted above, it should be understood that, in some embodiments, the functionality of the present disclosure may be described in computer-executable instructions stored on a computer-readable medium and executable by one or more processors. A computer-readable medium is a non-transitory computer-readable storage medium. By way of non-limiting example, such computer-readable media may include RAM, ROM, EEPROM, CD-ROM or other optical disk storage, magnetic disk storage or other magnetic storage devices, or any other medium usable to carry or store desired program code in the form of instructions or data structures and accessible by a computer. Combinations of the above are also included within the scope of computer-readable media.

[0041] It should be appreciated that one or more aspects of the present disclosure transform a general-purpose computing device into a special-purpose computing device when configured to perform the functions, methods and / or processes of the present disclosure.

[0042] As will be understood based on the above specification, the above-described embodiments of the present disclosure may be implemented using computer programming or engineering techniques (including computer software, firmware, hardware, or a combination or subset thereof) to achieve technical effects by performing at least one or more of the operations set forth in the claims, which may involve, for example, (a) receiving an approval request from a first institution for a user to redeem a token; (b) looking up a data structure escrow address associated with the redemption of the token; (c) approving the redemption in response to what the data structure address indicates for the token, wherein the institution transfers value associated with the token to the user; (d) receiving a settlement record for the redemption of at least the token; and / or (e) settling the redemption between the first institution and a second institution associated with a token issuer of the token.

[0043] Furthermore, the above-described embodiments of the present disclosure may be implemented using computer programming or engineering techniques (including computer software, firmware, hardware, or any combination or subset thereof) to achieve the technical effects by performing at least one or more of the operations recited in the claims.

[0044] The exemplary embodiments are provided so that the present disclosure will be thorough and fully convey the scope to those skilled in the art. Many specific details (e.g., specific components, devices, and methods) are set forth to provide a thorough understanding of the embodiments of the present disclosure. It will be apparent to those skilled in the art that specific details are not necessarily implemented, that the exemplary embodiments may be embodied in many different forms, and that nothing should be construed as limiting the scope of the present disclosure. In some exemplary embodiments, well-known processes, well-known device structures, and well-known technologies are not disclosed in detail.

[0045] The terminology used in this disclosure is for the purpose of describing particular exemplary embodiments only and is not intended to be limiting. As used in this disclosure, the singular indefinite and definite articles may also be intended to include the plural unless the context clearly dictates otherwise. The terms "comprise," "including," "having," "having," and "having" indicate inclusion and specify the presence of stated features, objects, steps, operations, elements, and / or components. However, such terms do not exclude the presence or addition of one or more other features, objects, steps, operations, elements, components, and / or groups thereof. The method steps, processes, and operations of the present disclosure should not be construed as necessarily requiring them to be performed in the particular order disclosed or illustrated, unless an order of performance is explicitly specified. It should be understood that additional or alternative steps may be implemented.

[0046] When a feature is "on," "related to," "connected," "coupled," "associated," "contained in," or "communicates" with another feature, the feature may be directly on, related to, connected to, coupled, associated with, contained in, or communicating with the other feature, or there may be intervening features. As used herein, the terms "and / or" and "at least one" include any and all combinations of one or more of the associated listed items.

[0047] Although terms such as first, second, third, etc. may be used in this disclosure to describe various features, these features should not be limited by these terms. These terms may be used solely to distinguish one feature from another. When used in this disclosure, "first," "second," and other numerical terms do not imply a sequence or order unless the context clearly dictates otherwise. Thus, a first feature of the present disclosure could be described as a second feature without departing from the teachings of the exemplary embodiments.

[0048] No claimed element is intended to be a means-plus-function within the meaning of 35 U.S.C. § 112(f) unless expressly recited using the phrase "means for" or unless recited in method claim format using the phrase "function for" or "step for."

[0049] The above disclosure of exemplary embodiments is provided for purposes of illustration and description. The disclosure is not exhaustive and is not intended to limit the disclosure. Individual elements or features of a particular embodiment are generally not limited to that particular embodiment. Thus, such individual elements or features, even if explicitly shown and described, are interchangeable, where applicable, and can be used in selected embodiments. The same content may be modified in many ways. Such variations are not considered to depart from the disclosure. All such modifications are intended to be within the scope of the disclosure.

Claims

1. 1. A computer-implemented method for use in redeeming tokens, the method comprising: receiving, by a processing network, from a first institution, a request for authorization for redemption of the token by the user; looking up, by said processing network, a data structure escrow address associated with said redemption of said tokens; and in response to the data structure escrow address indicating for the token, approving the redemption of the token, wherein the institution transfers value associated with the token to the user.

2. 10. The computer-implemented method of claim 1, wherein the data structure comprises an immutable blockchain data structure.

3. 10. The computer-implemented method of claim 1, wherein the token comprises a stablecoin.

4. 10. The computer-implemented method of claim 1, further comprising: receiving, by said processing network, a liquidation record for said redemption of at least said tokens; and settling, by the processing network, an amount associated with the redemption between the first institution and a second institution associated with a token issuer of the token.

5. 5. The computer-implemented method of claim 4, wherein the data structure escrow address is a one-way address; 20. A computer-implemented method, wherein the data structure escrow address is accessible only by the token issuer.

6. 10. The computer-implemented method of claim 1, wherein the data structure escrow address is associated with an amount of the tokens available to the user.

7. 7. The computer-implemented method of claim 6, further comprising generating instructions for writing the token after approval of the redemption of the token.

8. 7. The computer-implemented method of claim 6, further comprising writing the token after approval of the redemption of the token.

9. 10. The computer-implemented method of claim 1, wherein the authorization request includes an indication of a token issuer of the token and a token signature of the token.

10. A non-transitory computer-readable storage medium containing executable instructions that, when executed by at least one processor in connection with redemption of tokens, cause the at least one processor to: receiving an authorization request from a first institution for redemption of the token by the user; looking up a data structure escrow address associated with said redemption of said tokens; and in response to the data structure escrow address indicating for the token, approving the redemption of the token, wherein the institution transfers value associated with the token to the user.

11. 11. The non-transitory computer-readable storage medium of claim 10, wherein the executable instructions, when executed by the at least one processor, cause the at least one processor to further: receiving a liquidation record for said redemption of at least said tokens; and settling an amount associated with the redemption between the first institution and a second institution associated with a token issuer of the token.

12. 11. The non-transitory computer-readable storage medium of claim 10, wherein the authorization request includes an indication of a token issuer of the token, a token symbol of the token, and the data structure escrow address for the token; A non-transitory computer-readable storage medium, wherein the executable instructions, when executed by the at least one processor, further cause the at least one processor to perform the step of retrieving the data structure escrow address from the authorization request before looking up the data structure address associated with the redemption of the token.

13. 13. The non-transitory computer-readable storage medium of claim 12, wherein the data structure escrow address is associated with an amount of the tokens available to the user.

14. 14. The non-transitory computer-readable storage medium of claim 13, wherein the executable instructions, when executed by the at least one processor, further cause the at least one processor to perform the step of generating instructions for writing the token after redemption of the token.

15. 14. The non-transitory computer-readable storage medium of claim 13, wherein the executable instructions, when executed by the at least one processor, cause the at least one processor to further perform the step of writing the token after redeeming the token.

16. A system for use in redeeming tokens, the system comprising: receiving an authorization request from a first institution for redemption of the token by the user; looking up a data structure escrow address associated with said redemption of said tokens; and in response to the data structure escrow address indicating for the token, approving the redemption of the token, wherein the institution transfers value associated with the token to the user.

17. 17. The system of claim 16, further comprising a data structure in communication with the computing device, the data structure including the data structure escrow address.

18. 20. The system of claim 17, wherein the data structure comprises an immutable blockchain data structure.

19. 20. The system of claim 18, wherein the data structure escrow address is a one-way address; The system, wherein the data structure escrow address is accessible only by the token issuer.

20. 20. The system of claim 19, wherein the computing device is further configured to instruct writing of the token in response to the token being redeemed.

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