Crunchfish receive clean IPRP for another key Digital Cash patent application
Crunchfish Digital Cash AB (“Crunchfish”) have received an International Preliminary Report on Patentability (IPRP) in Chapter II of the Patent Cooperation Treaty (PCT) for a key Digital Cash patent application PCT/SE2022/050090 with a focus on transfer of Digital Cash between a mobile communication device and a smart card, indicating that all claims 1 – 20 are deemed patentable. This patent extends Crunchfish extensive patent portfolio to also support payment cards.
This is especially important in CBDC implementations as cards as a bearer instrument is important to ensure financial inclusion. The innovation Crunchfish brings is that cards can be topped-up and used much easier. By simply tapping a card on a mobile the user may top-up the balance on the card or alternatively pay to an offline wallet on the mobile. This patent also support privacy as the main claim is focused on just debiting and crediting a balance on the card and the mobile.
Crunchfish showcased this functionality as a finalist in RBI’s first global HaRBInger Hackathon last year. The product Digital Cash non-mobiles was discussed in a webinar last year and here is a demo video showing the patented use case.
The patent has priority from a provisional patent application filed in January 2021. The next step is to enter the phase of national phase before July 2023 when Crunchfish must decide which markets to protect this important intellectual property. A patent if granted is valid until January 2041, 20 years from the original filing date.
”Extremely happy that this innovation was also deemed patentable. For financial and digital inclusion, the use of cards and wearables is required and important in any CBDC implementation. This protects in offline mode to top up a card from a mobile as well as paying Digital Cash on the card to a mobile or mPOS. Crunchfish patent portfolio is increasing and allows us to roll-out Digital Cash from a protected position.”, says Joachim Samuelsson, CEO Crunchfish AB.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 30 March 2023 at 08:00 CET.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.
