THELOGICALINDIAN - Ripple changes the name of its PayID account to PayString
San Francisco-based crypto aggregation Ripple has registered a new brand for a artefact alleged PayString with the U.S. Patent and Brand Office (USPTO). Based on cloister documents, however, the rebrand may be annihilation added than the resolution of a lawsuit.
Ripple Rebrands Following Lawsuit
The brand application was accustomed on Nov. 13, with added capacity provided on USPTO’s website.
The brand description says, “PAYSTRING™ brand allotment is advised to awning the categories of cyberbanking banking services. Specifically, PayString will action budgetary casework for accepting and disbursing remittances and budgetary ability in authorization currencies and basic currencies over a computer network.
Media publications accept speculated that the new brand suggests that Ripple has a new payment artefact in the pipeline.
But that may not be the case.
Upon afterpiece inspection, the PayString brand is identical to the PayID logo. PayID was an open-source payments identification account launched by Ripple in June this year.
Ripple’s new brand is about identical to its ahead launched PayID service. Source: Ripple Labs/USPTO
Ripple association associates were quick to point out the trademarks’ affinity and appropriate that the new brand PayString is a backup for PayID.
According to one association member, the description of PayString matches the description of PayID’s brand application, which was filed with USPTO in June.
A accumulation of 13 banking institutions, which accomplish up NPP Australia, sued the crypto aggregation in August for brand contravention of their payments product, additionally alleged PayID.
In 2018, the NPP had registered the PayID trademark, and this cloister document outlines the attributes of the lawsuit.
Here is the cloister document which states that NPP had registered the brand in 2018 and sued Ripple for application the aforementioned name. Ripple agreed to change the brand to abide operating its account in Australia.
These contest advance that the company’s contempo rebrand was not approximate and was, in fact, a aftereffect of its acknowledged battles with NPP.
Crypto Briefing wrote to Ripple to affirm the attributes of the rebranding but has not accustomed a acknowledgment columnist time.
