Ripple files yet another new trademark with the United States Patent Office or USPTO. It can be recalled that it has already filed several U. S. trademark applications with USPTO in the past few months. These filings include Ripple Impact, Ripple X, Ripplex, On-Demand Liquidity, or ODL and PayID. The last one became the subject of a legal battle against a banking consortium in Australia.
On Nov. 6, Ripple filed the trademark “Paystring” with USPTO. According to its description, Paystring is a 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; electronic financial services, namely, receiving and disbursing payments and monetary gifts in 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.
But it does not give precise details as to what products will be marketed under the new trademark. Coincidentally PayID and Paystring bear the same description and symbol.
Ripple has been surrounded by a lot of controversies. One of which is a dispute on its regulatory status. According to the veteran trader and chart analyst Peter Brandt, XRP is a security. It means that the coin should be under the regulatory jurisdiction of the United States Securities and Exchange Commission. Brandt strongly expressed his opinion in his recent tweet.