On June 9 and June 16, 2026, the U.S. Patent and Trademark Office issued two patents to Gemini IP, LLC, the intellectual-property holding entity behind the Winklevoss-founded digital-asset exchange. The first, US12651249B1, covers “depositing and withdrawing stable value digital assets in exchange for fiat.” The second, US12659157B1, covers tokenized asset markets tied to blockchain-embedded emissions offsets. Read together, the two grants land in the two areas where the company's issued estate is most concentrated: the plumbing of a fiat-backed token, and the markets built on top of tokenized assets.

The footprint behind them is sizable. Across the records indexed for Gemini IP, the issued grants cluster heavily in CPC class G06Q 40/04 — the classification for financial-instrument exchange — which appears on 15 of the company's grants, and in G06Q 20/3829 (payment protocols involving secure key/credential management), which appears on 13. Two further payment classes, G06Q 20/389 (transactions via a chain of records) and G06Q 20/3674 (involving authentication/trusted hardware), each appear on nine. That distribution is itself a description of the business: an exchange whose granted claims sit at the intersection of market mechanics and the cryptographic handling of customer assets.

The stablecoin spine

The fiat-backed-token line is the densest part of the estate. The newly issued US12651249B1 describes a method, system and program product for depositing and withdrawing a stable-value digital asset “tied to a blockchain in exchange for fiat” — the on-ramp/off-ramp step at the center of any dollar-pegged token. It joins earlier grants that cover adjacent steps in the same lifecycle: US12530681B1 (“generating and utilizing stable value digital assets”), US12639706B1 (modifying the supply of, and holding collateral behind, a stable-value token), and the wallet-payment grant US12277554B1 for making payments with fiat-backed digital assets. The cluster reads as coverage of a stablecoin's full mechanical loop — mint, collateralize, hold, transact, redeem — with the new June grant filling in the fiat-conversion endpoint.

That concentration is notable because Gemini issues a dollar-pegged token and, separately, has carried digital-asset products through the public markets. The issued claims map onto exactly those activities. The supply-modification and collateral grants describe how a token's outstanding quantity is adjusted and backed; the deposit/withdrawal grant describes how a holder moves between the token and fiat. The records do not assert market share or usage — a patent says nothing about how many tokens circulate — but they do show where the company has sought, and obtained, enforceable claims.

Custody, validators, and tokenized markets

A second strand covers how assets are held and moved. US12639699B1, issued in late May 2026, claims a “key sharding hierarchy and shared custody blockchain wallets” — a scheme in which groups of signing devices collaboratively generate key shards and a quorum of those shards is required to authorize a transaction. That is the multi-party-computation style of custody an exchange uses so that no single device or person can move customer funds alone. It sits alongside US12284288B1, covering autonomous devices that authorize and perform digital-asset transactions via a hash chain and asymmetric keys, and the proof-of-stake validator grant US12380443B1, which covers provisioning “validator pods” and managing validator keys for staking. The CPC tally underlines the point: the secured-payment and key-management classes recur across the portfolio rather than appearing once.

The third strand is the markets layer, and it is where the newest grant points. US12659157B1 describes calculating a carbon footprint for a blockchain transaction based on the identity of the miner that created the block, then issuing a token representing that footprint for trade in a marketplace. As the abstract puts it:

If the carbon footprint is less than a predefined threshold, a token can be issued that represents the carbon footprint associated with the transaction.— Tokenized asset markets and blockchain-embedded emissions offsets, US12659157B1

That grant extends a tokenized-markets line that also includes the non-custodial-trading grants US12493871B1 and US12265953B1, and the exchange-traded-product grants for issuing and redeeming shares in an entity holding digital assets. Taken as a whole, the issued footprint reads as three concentric layers — the token itself, the custody and validation around it, and the markets and products built on top — with the June 2026 grants adding coverage at the fiat boundary and at the tokenized-asset frontier. What that coverage means for any given competitor depends on claim scope and the specific products at issue, which the records here do not resolve; what they do establish is the shape of the estate Gemini has accumulated, classification by classification and grant by grant.