Ripple Forced To Rebrand PayID Trademark After Copyright Infringement Lawsuit

Ripple Forced To Rebrand PayID Trademark After Copyright Infringement Lawsuit


Ripple Labs Inc., issuers of the XRP cryptocurrency, has filed for a new trademark called “Paystring” with the US Patent and Trademark Office (USPTO).

The trademark was filed on Nov. 6 and accepted on Friday, according to the USPTO website.

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Although Ripple did not specify which sort of business will fall under the new product, it is notable that the trademark’s registration description matches that of PayID, a trademark it registered on June 17, word for word.

Both the official description for Paystring and PayID read: “[The]…trademark registration is intended to cover the categories of electronic financial services, namely, monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network and for exchanging fiat currencies and virtual currencies over a computer network.”

Even the Paystring logo looks identical to that of PayID. It consists of a stylized circle design with four lines

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