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Of Silicon Valley Ripple, a blockchain payments startup, has filed a trademark with the US Patent and Trademark Office (USPTO) for PayString, which is likely to be a new offering, according to a relationship in CoinDesk on Friday (November 13).
Since its founding in 2012, Ripple has received funding totaling $ 293.8 million. Its frictionless blockchain payment platform allows users to send money around the world.
“The registration of the trademark is intended to cover the categories of electronic financial services, namely, monetary services for the receipt and disbursement of remittances and monetary gifts in fiat currencies and virtual currencies over a computer network and for the exchange of currencies legal and virtual currencies on a computer network “, according to archiving.
The new trademark registration has a description that is the same as Ripple’s “Ripplenet” deposit in August, according to a Cointelegraph relationship.
Peter Brandt said on Twitter that the Securities and Exchange Commission would have declared XRP a stock if it “understood cryptocurrencies,” according to Cointelegraph.
Ripple collaborated with Currencycloud in July to facilitate global B2B payments and money transfers. Ripple’s global RippleNet network will allow Currencycloud to expand its reach to financial institutions. In turn, Ripple can leverage Currencycloud’s B2B cross-border payments experience.
At the beginning of last month, Ripple announced its intention to introduce a lending product that would allow its users to use the XRP digital currency for cross-border payments. The company said the pilot was successful.
Although it is based in San Francisco, Ripple is considering a move across the pond to London to escape what they see as an unfavorable regulatory climate in the United States. Other locations under consideration include Singapore, Switzerland, the United Arab Emirates and Japan.
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NEW PYMNTS STUDY: CROSS-BORDER COMMERCIAL FRICTION INDEX – NOVEMBER 2020
The PYMNTS cross-border commercial friction index analyzes the main points of friction experienced by consumers who browse, shop and pay for purchases on global e-commerce sites. The report examines the payment processes of 260 EU and US-based B2B and B2C eCommerce sites across 12 industries and highlights key traits that can help merchants improve their payment experiences.
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