To protect their interests in the crypto industry, both Paypal and Western Union have recently submitted trademark applications covering a wide variety of crypto services. Paypal’s logo is used in all of the company’s applications.
Three new trademark applications were recently submitted by Paypal, Inc. to the United States Patent and Trademark Office (USPTO).
Payment processing service Paypal has applied to trademark its name and distinctive “overlapping Ps” logo. In their promotional materials, the apps state their intentions to facilitate the buying and selling of blockchain + digital assets, crypto + digital + virtual currencies, and more.
Among the goods and services protected by the trademark are “downloadable software for sending, receiving, accepting, buying, selling, storing, transmitting, trading, and exchanging digital currency, virtual currency, cryptocurrency, stablecoins, digital and blockchain assets, digitized assets, digital tokens, crypto tokens, and utility tokens,” as stated in one of the trademark applications.
Bitcoin (BTC), Ether (ETH), Litecoin Cash (LTC), and Bitcoin Cash (BCH) are the four cryptocurrencies supported by Paypal’s cryptocurrency platform for users in the United States and U.S. territories (except Hawaii). The cryptocurrency transfer feature was just launched by the payment service, enabling customers to send their funds to other wallets and exchanges. PayPal’s revised terms of service permitted the corporation to charge users $2,500 for disseminating disinformation, which sparked a storm earlier this month on social media. In the end, the business stated that the incident was a misunderstanding.
In addition, Western Union has submitted trademark applications for cryptocurrency-related services.
According to Kondoudis’s Tuesday report, rival financial services provider Western Union submitted three trademark applications on the same day as Paypal.
Western Union has applied for trademark protection in three different classes, alleging that their products will be used in the following industries: banking, insurance, commodities, cryptocurrencies, and token issuance. …and a whole lot more besides.
More and more businesses are submitting trademark applications to the USPTO for crypto services. Formula One has just trademarked the letter combination “F1” for use on a wide variety of crypto goods. Ford, too, was busy last month, submitting 19 trademark applications. Two were submitted by online marketplace giant Ebay in June, five by Facebook owner Meta in May, and fifteen by payment processing giant Mastercard in April, all for trademarks on similar products.
