Tintra Seeks UK Patent to Protect Digital Wallet Linking Tech

FinTech firm Tintra Plc filed a U.K. patent application to protect its technology that links digital wallets with common ownership across different platforms and accounts, “… especially in the context of Web 3.0,” according to the patent filing on Thursday (June 16).

The intellectual property (IP) was created as part of Tintra’s rapid research and development program and the company will be seeking international patent protection, per the filing.

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Tintra CEO Richard Shearer said the research program, Project Revolution, lasted 90 days and the results were better than expected.

“The outputs include strategic leaps forward across the regulatory, technology and operations teams and have crystalized our mission in one place for the first time. We expect to start publishing these results over the coming weeks,” Shearer said in the filing.

Tintra’s IP is intended to create a frictionless environment for transacting within Web3 and between Web3 and legacy financial systems. It is also striving to facilitate seamless transactions between developed and emerging world markets, powered by artificial intelligence and providing global banking infrastructure without bias or prejudice, according to multiple reports.

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“The IP we are protecting under this patent application forms part of our philosophy that legacy banking and Web 3.0 need not view each other as an existential threat. This filing is expected to protect our innovations as we seek to reach our goal of using artificial intelligence to make real change,” Shearer said.

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He added that the investors aren’t seeking investments based on pure speculation but want to see some tangible assets that form a foundation. Tintra is “ensuring that our strategy is one that meets that market shift.”

The company has bank licenses in Qatar and Puerto Rico, has already applied in the U.K. and is planning to apply in Singapore in 2023, according to reports.