Ripple a San Francisco-based technology company has successfully registered a brand new product in the US named PayString with the (USPTO) The United States Patent and Trademark Office.
“PAYSTRING™ the trademark description is intended to say that it covers the categories of electronic financial services. Especially, it would offer monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network.
PAYSTRING™ Ripple’s new trademark is very indistinguishable from its earlier launched PayID service and the community of Ripple was quick to point out the resemblance with its earlier replacement of PayID and one of the members of the community described that the Paystring matches PayID’s trademark which was filed at UPSTO in June.
Numerous Media publications have reflected that the firm’s new trademark has a brand new cost product within the pipeline.
But the case isn’t how it gazes but by close inspection, the PayString trademark is as same as the PayID brand. Basically, PayID was an open-source provider bill id provider and it was introduced through Ripple in June 2020.
An Australia crypto company named NPP Australia had registered its trademark in 2018 and it sued Ripple’s PayID for trademark violation and breach, as their both payment product is named as PayID.
Ripple now has now agreed to modify its trademark and so that they can continue operating its service in Australia.
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