State Street Bank Settles Forex Trading Technology Patent Suit

State Street Bank and Trust Co. settled a patent-infringement lawsuit concerning technology used to trade currencies, including cryptocurrency, without converting to US dollars.

The bank and Intercurrency Software LLC notified Judge Rodney Gilstrap last week they’d “settled, in principle, all matters in controversy” related to a lawsuitfiled in February against State Street and its parent corporation. Gilstrap granted their joint request to halt all deadlines in the case for 30 days to prepare and submit dismissal papers, according to his July 19 order in US District Court for the Eastern District of Texas.

Intercurrency accused State Street of violating US ...