PANews, June 23 – According to The Block, tokenization platform Securitize has filed a lawsuit against digital securities infrastructure company tZERO, asking a federal court to declare that it does not infringe tZERO’s tokenization-related patents. tZERO had previously sent a cease-and-desist letter to Securitize, alleging that its DS Protocol and Vault Registrar products infringe two patents involving self-executing security tokens and crypto-integrated infrastructure, and demanding that Securitize stop commercializing the related products by June 18, or else face injunctive relief and monetary damages.

In its complaint filed with the U.S. District Court for the District of Delaware, Securitize called tZERO’s allegations “baseless,” stating that its products lack key elements covered by tZERO’s patents, including transaction execution and transaction signing functionality. Securitize also stated that tZERO’s move is the result of using patents for profit under shareholder pressure, rather than competing fairly in the market. Securitize issued a statement on X saying it will vigorously defend itself and is asking the court for a declaratory judgment of non-infringement, barring tZERO from using the relevant patents to sue it.