MUMBAI, India, Jan. 9 -- Intellectual Property India has published a patent application (202541132982 A) filed by Dr. Udit Narayana Kar; Dr. Sambireddy Gottam; Dr. Asish Kumar Dalai; Argha Saha; Vrishank Raina; and Kirtan Mardia, Amaravati, Andhra Pradesh, on Dec. 29, 2025, for 'neuvay: decentralized system for cross-border fiat-to-fiat p2p payment platform.'
Inventor(s) include Dr. Udit Narayana Kar; Dr. Sambireddy Gottam; Dr. Asish Kumar Dalai; Argha Saha; Vrishank Raina; and Kirtan Mardia.
The application for the patent was published on Jan. 9, under issue no. 02/2026.
According to the abstract released by the Intellectual Property India: "The invention relates to Neuvay, a decentralized peer-to-peer (P2P) fiat-to-fiat cross-border payment platform designed to enable secure, real-time, and low-cost international money transfers. The system integrates a hybrid blockchain architecture, combining the high-speed Solana public blockchain for transaction settlement with Hyperledger Fabric private blockchain for compliance, privacy, and immutable audit records. Users can convert local fiat into stablecoins, transfer them across borders, and reconvert them to recipient fiat with minimal fees. The platform supports offline transaction capabilities via Bluetooth, NFC, and QR codes, allowing users in connectivity-limited regions to perform cryptographically signed transfers that synchronize once online. A dedicated wallet application facilitates account management, real-time exchange rate monitoring, and transaction notifications. Advanced security features, including biometric authentication, KYC/AML compliance, and encrypted data storage, ensure robust protection. Neuvay provides accessibility, regulatory compliance, transparency, and financial inclusion while bridging gaps in traditional banking and existing P2P systems."
Disclaimer: Curated by HT Syndication.
