SoLVBL Solutions Inc. (CSE:SOLV) told investors it has bolstered its growing intellectual property (IP) portfolio with the award of a new patent protecting its flagship cybersecurity product Q by SoLVBL.
The US patent and trademark office (USPTO) has granted US Patent No. 11,334,879 for its "Method and System for Digital Payment Instrument Deployment of Authentication Seal."
It will allow the firm to "aggressively market its solutions to the distributed financial (DeFi) and centralized financial (CeFi) sectors", the tech group said.
"We have been enhancing strong intellectual property protection around our assets, and we continue to create value for our company," said Kaiser Akbar, CEO of SoLVBL, in a statement.
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"This new patent allows us to protect our technology portfolio and continue to develop data authentication products for the financial services sector.
"We strongly believe that digital currencies and digital payment systems will play an integral role in the global economy for the foreseeable future, and our digital payment authentication seal has the opportunity to be a large part of this future," he added.
The Q by SoLVBL platform is designed to be easy to use and provides digital record authentication at very high speed. This latest patent, together with the previously granted US patent 11,146,386, strengthens the group's IP in data authentication and cryptographic validation of data and should allow it to accelerate moves into the digital payment sector.
The new patent also comes after a rigorous process conducted by the USPTO following the first lodgment on February 14, 2020.
SoLVBL is an innovative cybersecurity and data authentication company. Its mission is to empower, better, faster decisions by developing a universal standard for establishing digital record authenticity.
Contact the writer at giles@proactiveinvestors.com