CoinCard Bank — Token Redemption (Patent Pending)

Redemption obligor

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Redeem a token

Present the 64-byte field token, or the note id + secret. The service verifies, locks, authorizes, pays, retires, and issues a receipt.

Field token (64-byte hex)

— or — note id Note secret

Payout method

Claimant (email, optional)

Redemption flow (agreement §5)

1

Receive the field token; bind the request to a unique transaction id and authenticated claimant.

2

Verify the token and consult the authoritative ledger for value, status, bank assignment, and prior redemption.

3

Atomically lock against transfer/competing redemption and create a bank-signed authorization.

4

Execute and verify payment; never extinguish the obligation on a pending or failed payment.

5

After confirmed payment, permanently retire the token and issue an auditable receipt.

Implementation checklist

Bank onboarding · secure-card enrollment · obligation issuance · redemption API · ledger reconciliation · holder portal. Holders see the bank redemption commitment, conditions, status, and dispute route — without implying deposit insurance.

Open reconciliation JSON