Jecto Registers Patent for On-Chain Payment Technology Connecting QR Codes and Blockchain Wallets

Stablecoin payment infrastructure company Jecto announced it has completed the registration of a patent for its on-chain payment technology, which connects visual codes such as QR codes and external blockchain wallets, on October 18.

The company explained that this patent, titled 'Wallet-Based On-Chain Payment Method and System Using Visual Codes,' focuses on transforming digital asset transfers into practical payment processes for real-world commerce. Visual codes encompass one-dimensional and two-dimensional codes recognizable by cameras, including QR codes, barcodes, and data matrices.

When a visual code displaying the recipient's information, amount, and order details appears on point-of-sale systems, kiosks, or online payment screens, users can scan it with an external wallet to execute on-chain payments. Smart contracts verify the consistency between payment requests and actual transactions before processing asset transfers. Electronic signatures detect tampering, while random numbers and expiration periods prevent reused expired payment requests.

Jecto previously secured a patent for automated collateralized stablecoin issuance, collateral management, and liquidity adjustment. The company also partnered with BideX and photo booth brand 'InSangNet' operator LK Ventures to pilot the payment system, linking BideX's KRW1 stablecoin to InSangNet's payment environment for verification of the entire process from payment request to settlement.

Jecto CEO Ryu Jeewon stated that with this patent, consumers can use digital assets as naturally as QR payments without realizing they are on a blockchain, and merchants can manage it within existing payment systems. The company looks forward to collaborating with industry partners and merchants to lead real-world payment implementation trials.