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Ripple is facing a lawsuit over copyright infringement from Australian payments company New Payments Platform Australia (NPPA), which filed the case on August 21.
- NPPA is suing Ripple for the use of “Pay ID”, which the NPPA says it is the registered owner of, having launched the brand in February 2018
- The NPPA also claims that it has established “a reputation both domestically and internationally” for the Pay ID brand
- As evidence of the legitimacy of the brand, the company points to 90 participating financial institutions supporting related payments, as well as 5 million PayIDs registered by Australian citizens
- Ripple uses the Pay ID brand with 40 companies, some of which are based in Australia
- NPPA CEO Adrian Lovney says that the Australian companies were under the impression Ripple was using NPPA’s Pay ID
- This is not the only lawsuit Ripple is embroiled in; a Puerto Rican company has also filed a lawsuit for fraud and investors have banded together accusing Ripple for selling unregistered securities
- Ripple has also filed a lawsuit of its own, doing so against YouTube in April for XRP giveaway scams
Related Reading:
- Steve Wozniak sues Youtube for cryptocurrency scams
