business
Securitize and tZERO clash over patents as race to bring Wall Street onchain heats up
Key takeaways
- Securitize said Monday it filed a lawsuit in the U.S.
- The move came a week after tZERO sent Securitize a cease-and-desist letter accusing the firm of violating several patents related to blockchain-based securities infrastructure.
- Global banks, exchanges and asset managers — including BlackRock, JPMorgan, Nasdaq, NYSE, to name a few — have increasingly embraced tokenization.
Securitize said Monday it filed a lawsuit in the U.S. District Court in Delaware seeking a declaratory judgment that it does not infringe patents owned by rival tokenization firm tZERO.
The move came a week after tZERO sent Securitize a cease-and-desist letter accusing the firm of violating several patents related to blockchain-based securities infrastructure.
Tokenization — the process by which the ownership rights of real-world assets like stocks, bonds or real estate can be converted into tokens on a blockchain — is one of the fastest-growing areas in the digital assets space.
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