Intercurrency Software vs. Thunes Asia: Voluntary Dismissal in Cross-Border Currency Trading Patent Case

Case Overview

In a case that closed almost as swiftly as it opened, Intercurrency Software LLC voluntarily dismissed its patent infringement action against Singapore-based fintech firm Thunes Asia Pte. Ltd. with prejudice — ending the dispute just 138 days after filing. The case, heard before Chief Judge Rodney Gilstrap in the Eastern District of Texas, centered on U.S. Patent No. 11,620,701 B1, covering a platform for trading assets in different currencies.

While the dismissal produced no merits ruling, the case carries meaningful lessons. It illustrates the strategic calculus behind pre-answer withdrawals in fintech patent litigation, the continued gravitational pull of the Eastern District of Texas as a patent venue, and the risks patent assertion entities face when pursuing well-resourced defendants represented by elite IP defense firms. For patent attorneys, in-house counsel, and R&D professionals operating in the cross-currency trading and digital asset space, this case is a compact but instructive data point.

The Parties

The Patent at Issue

This case centered on U.S. Patent No. 11,620,701 B1, covering a platform for trading assets in different currencies. The patent describes systems and methods for facilitating trades across different currency denominations — a foundational capability in cross-border payments infrastructure. The specific claims were not adjudicated, but the patent’s subject matter directly implicates the type of multi-currency settlement infrastructure Thunes operates commercially.

• • US 11,620,701 B1 — Platform for trading assets in different currencies (Application No. US 17/948,217)

The Verdict & Legal Analysis

Outcome

On February 24, 2026, Chief Judge Gilstrap accepted and acknowledged Intercurrency Software’s Notice of Voluntary Dismissal. Pursuant to Rule 41(a)(1)(A)(i), all claims by Plaintiff against Defendant were dismissed with prejudice. No damages were awarded. No injunctive relief was issued. No merits determination was made regarding patent validity or infringement.

Procedural Analysis: The “With Prejudice” Election

The most legally significant element of this dismissal is that it was entered with prejudice — a choice the plaintiff made voluntarily. Under Rule 41(a)(1)(A)(i), a plaintiff may dismiss without court approval before the defendant serves an answer or a motion for summary judgment. The default under this rule is dismissal without prejudice, unless the plaintiff specifies otherwise.

Intercurrency’s decision to dismiss with prejudice is therefore notable. It permanently bars re-assertion of the same patent claims against Thunes Asia on the same accused products. This is not a routine tactical retreat — it represents a final, self-imposed termination of rights against this defendant.

Several scenarios are plausible for this decision, including a confidential settlement, strong pre-answer pressure from defendant’s counsel (e.g., invalidity analysis, IPR threats, or § 101 challenges), or a broader business resolution.

Legal Significance

Because no merits ruling was issued, the case creates no binding precedent on the scope or validity of US 11,620,701 B1. However, the survival of the patent in its asserted state — without an invalidity finding — means Intercurrency retains enforcement rights against other parties. The ‘701 patent remains a viable assertion vehicle against other cross-border payment platforms that did not benefit from this dismissal.

Strategic Takeaways

This rapid resolution, driven by Fish & Richardson’s defense posture, underscores a market reality: defendants with sophisticated IP defense capabilities can compress litigation timelines dramatically, reducing exposure and uncertainty. For smaller fintech operators without equivalent legal resources, a similar claim could produce a very different trajectory.

For the broader cross-currency trading patent landscape, the ‘701 patent’s continued validity means other payment infrastructure companies should evaluate their exposure. The technology covered — asset trading across currency platforms — is commercially foundational, and Intercurrency’s willingness to litigate (even briefly) signals portfolio-level enforcement intent.