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Ripple Labs Inc., issuers of the XRP<\/a> cryptocurrency, has filed for a new trademark called \u201cPaystring\u201d with the US Patent and Trademark Office (USPTO).<\/strong><\/p>\n The trademark <\/a>was filed on Nov. 6 and accepted on Friday, according to the USPTO website.<\/p>\n Although Ripple did not specify which sort of business will fall under the new product, it is notable that the trademark\u2019s registration description matches that of PayID, a trademark it registered <\/a>on June 17, word for word.<\/p>\n Even the Paystring logo looks identical to that of PayID. It consists of a stylized circle design with four lines of various colors radiating from it.<\/p>\n Based on these findings, we can hazard to speculate that Paystring is a payment service, one directly designed to replace controversy-ridden PayID, and to help avoid the Australian court fight.<\/p>\n San Francisco-based Ripple will indeed be keen to dispense with PayID. In August, the firm was sued<\/a> in an Australian court for allegedly infringing a trademark belonging to several local banks.<\/p>\n The lawsuit filed by the New Payments Platform Australia (NPPA), a joint venture between the Reserve Bank of Australia and 13 domestic banks, claims that Ripple copied its PayID brand.<\/p>\n NPPA\u2019s service has been in existence for more than two years, helping to facilitate instant payments across 68 million Australian bank accounts. Ripple launched its cross-border payments service, also called PayID, in June, in partnership with 40 businesses.<\/p>\n What do you think about the Ripple PayID rebranding? Let us know in the comments section below. <\/strong><\/em><\/p>\n The post Ripple Forced To Rebrand PayID Trademark After Copyright Infringement Lawsuit<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n![\"\"](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/11\/41c6fe98-6efa-4d7e-a458-1a67ffdf3a4b.png\")
Both the official description for Paystring and PayID read: \u201c[The]\u2026trademark 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.\u201d<\/p>\n