PHILADELPHIA, PA — Datavault AI Inc. (Nasdaq: DVLT) received U.S. patent allowance for a blockchain-based dividend system designed to identify discrepancies between issued shares and reported ownership positions, potentially creating licensing opportunities across exchanges, brokerages, custodians and transfer agents.
The U.S. Patent and Trademark Office allowed all 24 claims in Patent Application No. 19/445,241 on July 1, less than six months after the company filed the application Jan. 9.
A Notice of Allowance means the agency determined the claims are eligible for patent protection, subject to payment of an issue fee and completion of administrative requirements. The patent has not yet been formally issued.
The proposed system would generate digital tokens corresponding to shares entitled to a dividend and record them on a distributed ledger. Tokens would be assigned only to verified shareholders, with none created for shares that remain undelivered.
The technology would then compare the number of issued dividend tokens with positions reported by brokers, custodians and other market intermediaries. Datavault contends that process could expose undelivered, synthetic or uncovered short positions.
The allowed claims also cover shareholder verification using transfer-agent and custodian records, automatic recalls of loaned shares, smart-contract settlements and audit records identifying intermediaries associated with delivery failures.
Additional provisions address the reassignment of security identifiers, including new CUSIP numbers, to distinguish shares before and after a dividend event and force reconciliation of ownership records.
The system could settle uncovered positions through delivery of shares or tokens, or through the transfer of equivalent monetary value, according to the application.
Chief Executive Officer Nathaniel T. Bradley characterized the allowance as an expansion of Datavault’s intellectual property into digital capital markets infrastructure.
“We believe blockchain-enabled dividend distribution and shareholder verification technologies have the potential to improve transparency, strengthen market integrity, and create new licensing opportunities,” Bradley stated.
The company identified exchanges, issuers, transfer agents, broker-dealers, custodians and digital asset platforms as potential licensees. No commercial agreements tied to the technology were disclosed.
Datavault develops data monetization, credentialing and tokenization technologies. Its digital asset initiatives also include the Dream Bowl I meme coin, which began trading on the Biconomy exchange in June.
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