Ripple Launches New Trademark Following PayID Debacle

This August, Ripple was the subject of a lawsuit served up by NPPA, a payment platform serving countless users across Australia. 

The dispute started over the use of the “PayID” name in Australia —  which the NPPA was already using. 

The NPPA claimed that Ripple’s actions constituted deceptive conduct — in breach of both the Australian Security and Investments Act and Australian Consumer Law.

In a statement, the NPPA claimed that Australian investors — as well as regular users of their PayID platform — were at risk, as they could have been liable to confusion arising from the shared name.


PayID — the payment platform run by the NPPA — has served more than 68 million bank accounts ever since it’s launch 2 years ago.

“The aim of this action is to protect Australian consumers and businesses from potential losses or scams that could arise as a result of confusion created from a payments service using the same name.”

Ripple Rebrands 

Back in August, Neil Murray SC —  a counselor for Ripple Labs — stated that they would look for options, wishing to resolve the issue amicably if possible.

Last week, Ripple Labs filed a trademark for their rebranded platform with the United States Patent and Trademark Office. 

Named Paystring, the new trademark has not been explained by Ripple — nevertheless, it is worth noting that the logo used has remained the same except for the name, as well as the trademark description itself. 

“[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.”

Taking into consideration these similarities, it is quite probable that this trademark will be used to relaunch the service in Australia, free of legal issues.

Cristian Lipciuc

Cristian Lipciuc

Cristian Lipciuc is a blockchain journalist working with startup companies across multiple domains such as freelancing, app development & cryptocurrency. Cristian specializes in applied blockchain technologies, cryptocurrency integration, the adoption of new technologies by governments, and cybersecurity.

You may also like