Bank of America, the second-largest bank in the U.S., filed an application entitled "Multi-Tiered Digital Wallet Security" in early 2018 and the USPTO recently published the application.

The application provides for a multi-tiered structure for improved security:

"Through the digital wallet interface, a user of the user computing device may be able to partition digital currency holdings into one or more differentiated storage compartments or tiers. Each of the one or more compartments may be password secured and may only permit access to the amount of digital currency holdings specified by the user."

Despite having filed over 50 cryptocurrency and blockchain-related patents since 2017, Bank of America continues to publicly denounce the use of cryptocurrency in daily transactions. Recently, Bank of America Corps. chief technology officer, Cathy Bessant, stated that the prospect of cryptocurrency playing a role in daily transactions was troubling.

This viewpoint reflects an early cryptocurrency concern over anonymous transactions, ignoring the evolution cryptocurrencies have experienced. It is now possible to trace transactions using bitcoin addresses. Currencies such as Litecoin or Dash are gaining popularity by prioritizing usage with daily transactions.