JP Morgan was sued twice in five days over patents covering blockchain operations and payment tokenization that could have implications well beyond the bank.
The first suit, brought by Nueces Blockchain LLC, targets JPMorgan’s Kinexys blockchain platform, as first reported by Law360. The second, filed by Anonos Innovations LLC, targets the bank’s merchant payment tokenization infrastructure. While that is more relevant for card payments, it also touches on DLT applications. Together they highlight a growing patent risk for institutions scaling up digital asset and tokenization platforms. Both claims are available to download below.
Nueces Blockchain filed its complaint on July 22, asserting three patents against Kinexys, JPMorgan’s blockchain business unit that processes billions of dollars in tokenized transactions daily using a permissioned version of Ethereum.
The patents claim to cover foundational blockchain operations, and if those claims hold up, the implications extend to most blockchains, not just Kinexys. The complaint itself makes this clear by also targeting Coinbase’s Base network, alleging that JPMorgan triggers infringement each time it initiates a JPM Coin deposit token transaction that Coinbase executes on Base.
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