A USPTO-licensed trademark lawyer named Mike Kondoudis revealed on Twitter that Paypal had filed trademark registrations for its “overlapping Ps” logo and Paypal. The apps make claims regarding strategies for swapping, trading, and handling transfers of digital assets based on blockchains, such as cryptocurrencies and other virtual currencies.
Customers can transact with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash(BCH) through Paypal’s cryptocurrency platform in the United States and U.S. territories (apart from Hawaii). Thanks to the payments company, users can now transfer cryptocurrency to different wallets and exchanges. Earlier this month, Paypal became the subject of debate after social media users discovered that the company’s updated terms of service permitted it to fine users $2,500 for disseminating false information. The company later said that it was a mistake.
The trademark covers “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.”
The trademark lawyer also disclosed that Western Union had filed three trademark applications for crypto services. To claim “plans for financial + banking + insurance, virtual currency exchange + transfer, commodities and crypto trading + brokerage, issuing tokens of value… and much more,” the money transfer agency has filed three trademark applications.
The USPTO has received more and more trademark applications from businesses pertaining to cryptocurrencies and the metaverse. Formula One registered “F1” as a trademark for eight different products and services in the crypto and metaverse earlier this month. Ford similarly submitted 19 trademark applications last month. Two were submitted by the world’s largest online retailer eBay in June, Facebook owner Meta in May submitted five, and Mastercard submitted fifteen in April.