Flexa Returns to Patenting

In May of 2021, digital payments platform Flexa announced that its payments platform could be used to convert between currencies within a single transaction. A customer could make a purchase using a currency of their choice, while a seller receives the monetary value in their preferred currency. This type of interoperability is important as different cryptocurrencies emerge or gain spending power based on market changes. Flexa also partnered with Sheetz to enable use of cryptocurrencies at Sheetz stores and gas stations, making the chain the first of its kind to accept such forms of payment. Flexa offers integratable tools for any kind of digital payment, as well as cash transactions. In 2019, Flexa published a whitepaper detailing the company’s approach to seamlessly supporting a variety of cryptocurrencies. That same year, Flexa filed three patent applications for secure payment systems, with one of those applications for a cryptocurrency payment system that uses collateral holds being allowed in October 2021. In June of 2021, Flexa also filed two patent applications, including one for converting two cryptocurrencies to a “universally accepted” coin. The filings indicate that Flexa is concentrating on making a truly universal platform that can exchange cryptocurrencies in a single transaction. Other financial services companies such as Bank of America, Mastercard, Gemini, and Visa are also interested in cryptocurrency conversion, especially for linking digital assets to fiat currencies. Any of these companies may be interested in acquiring Flexa, especially given that it has a functional platform in addition to its patent portfolio. Keep up with further developments with the Cryptocurrency Patent Forecast®.