Major U.S. financial services company Capital One has filed a new patent application for a cryptocurrency analysis and trading system that will attempt to predict crypto market trends and generate trading decisions using artificial intelligence (AI).
Capital One’s Cryptocurrency AI System
The United States Patent and Trademark Office (USPTO) published a patent application on Aug. 13 for a cryptocurrency system filed by financial services company Capital One Services. It is a continuation of Capital One’s system patented in June. Capital One Services is affiliated with Capital One Bank, a subsidiary of Capital One Financial Corp. The corporation had $304.2 billion in deposits and $421.3 billion in total assets as of June 30. A Fortune 500 company, Capital One trades on the New York Stock Exchange (NYSE) under the symbol COF.
Capital One explained that cryptocurrencies trade 24/7 so traders need to monitor information from many sources all day. Numerous factors could affect trade decisions, including regulatory and exchange news,…