The Apple store removed the TokenPocket crypto wallet after a PayPal complaint with the company informing the wallet about the dispute over the trademark as we are reading more in our latest cryptocurrency news today.
Global payments giant PayPal is going after TokenPocket as a crypto wallet over an alleged trademark infringement.
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The apple store removed the TokenPocket wallet from the app store and announced it so according to the company, the reason for removal was a complaint from PayPal due to concerns of an alleged trademark issue. The app said that it received communications from PayPal over a dispute with the trademark of the company in a letter earlier this week. The wallet stressed that it is willing to resolve the issue in a quite friendly way and that PayPal has no more replies to this question.
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The company wrote:
“We attach great importance to this and dispatched professionals to conduct research on both sides’ trademarks, sorting out, and communicating in detail in the form of pictures and texts to explain the differences on both sides’ trademarks.”
TokenPocket didn’t mention the exact reason for the complaint as online users noticed that the logo of the wallet looked similar to PayPal’s as it had similar letters in a similar color placed next to each other as one Reddit user wrote:
“I was about to open TokenPocket but accidentally click Paypal.”
PayPal and TokenPocket didn’t respond to the request for comment. Founded back in 2018, TokenPocket is a wallet provider supporting major public blockchains like Ethereum, Bitcoin, Polkadot, Kusama, and Binance Smart Chain as the company claims to have more than 10 million users in more than 200 countries and regions. One of the world’s biggest companies PayPal debited crypto-related services in late 2020.
As recently reported, American payment giant PayPal is exploring new ways to offer stock trading after launching crypto trading services a year ago and now PayPal aims at Robinhood as it looks to buy or partner with a broker or a dealer to introduce its own stock service to compete with rivals like crypto app Robinhood. Citing anonymous sources, the report noted that PayPal conducted relevant discussions with potential industry players but will not launch the new investment service this year.
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