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Ripple files three new trademarks with the U.S. Patent and Trademark Office

Ripple Lab has filed three new trademarks with the U.S. Patent and Trademark Office. The company is apparently planning to launch a new electronic payment solution called Ripplex, as well as a new division called Ripple Impact.

San Francisco-based Ripple has applied to
the United States Patent and Trademark Office (USPTO) for registration of three
new trademarks: Ripple Impact, RIPPLEX and Ripplex (one in upper and one in
lower case). As the applications indicate, Ripple apparently plans to launch an
electronic payment solution called Ripplex and a charitable foundation called
Ripple Impact.

The Ripple Impact trademark was filed just
one week ago, on August 19, and was added to the TRAM system of all active
federal trademark registrations by the US Patent and Trademark Office on August
22. According to the description, the project could serve a similar purpose to
Ripple’s Xpring investment arm, with the new division providing financial
support for various financial innovation programs and services:

Charitable foundation services, namely,
providing fundraising activities, supplemental funding, capital improvement
funding, scholarships and financial assistance for programs and services of
others in the field of financial technology.

The second trademark, Ripplex, was already
filed with the US Patent and Trademark Office on August 11 with two different
logos and appears to be a brand-new Ripple product. According to the
description, it will be a software that can process and manage electronic
payments in the form of fiat and cryptocurrencies. The description suggests
that the solution could also use XRP to provide “currency exchange services”:

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; […]

financial services, namely, providing a
virtual currency for exchange over a computer network; currency exchange
services, namely, exchanging fiat currencies and virtual currencies over a
computer network; […]

financial transaction verification
services, namely, delivering remittances and monetary gifts from a source to a
destination; financial management and administration services, namely,
facilitating transfers of digital currency, transmission of digital currency
via electronic communication networks, and electronic transmission of digital
currency.

Further details of the trademark applications are not known at this time, and an official announcement by Ripple has not yet been published.

As CNF reported yesterday, another patent,
the one for PayID, is currently causing trouble at Ripple. NPP Australia, a
payment platform for Australia that has already been adapted by more than 60
Australian banks, has sued Ripple Labs for infringement of intellectual
property and protection of the “PayID” trademark. The Australian company had
already launched its version of PayID two years before Ripple and now
apparently wants to protect its trademark. The suit was filed in Australian
Federal Court on August 20, and the next hearing is scheduled for August 26.

Author : Jake Simmons

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