- Blockchain company, Ripple has filed for a new trademark with the USPTO for PayString.
- The platform could be used for monetary service, as the filing was categorized under electronic financial service.
Ripple, the blockchain payment company behind the fourth-largest cryptocurrency (XRP), is cooking something new which is being speculated to be another monetary services product. Judging from recent developments, one might say that the San Francisco company is getting ready for a big push in business. Recently, the company rebranded about two of its products, as Cryptopolitan reported.
It also raised complaints about the US unfriendly environment for crypto companies and planned to move its headquarters from the country if the regulators don’t change their stance on the cryptocurrency industry.
Ripple opens “PayString” trademark application
The development today was observed by a Ripple cryptocurrency supporter, Janna One Trick. She tweeted that the company filed for the “PayString” trademark on November 6. Further research into the development proved that the trademark was filed with the USPTO, i.e., the United States Patent and Trademark Office. Per the information, the trademark application was categorized under “Insurance and Financial” and “Advertising and Business.”
The PayString filing with the USPTO filing reportedly has the same description as RippleNet. The description on the web page reads that the filing covers electronic financial services for the new platform. The blockchain company hasn’t officially announced the development, nor the actual use case for PayString. However, the details so far suggest the platform won’t operate far from digital payment service.
Ripple payment services
Earlier in October, the company rebranded its affiliate platform, dubbed Xpring to RippleX. The platform develops core technology solutions that allow seamless integration of payment functions on applications. The rebranding also brought changes to the platform’s executives. As recently as November 8, the company opened a regional base in Dubai International Financial Centre. This follows its recent plan to move its United States headquarters abroad.