Litigation Shock Against Ripple: From Australia This Time

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Blockchain-based payment and remittance giant Ripple can be the target of different cases from time to time because of its growth. A blow to Ripple, which has a securities case currently pending in federal court in the US, came from the federal court in Australia.

New Payments Platform Australia (NPPA), one of Australia’s payment-oriented companies, sued Ripple Labs in an application to the federal court. It is claimed that the “PayID” brand used by NPPA in Australia is also used by Ripple.

He emphasized that the purpose of the lawsuit filed by NPPA is “to protect Australian citizens from the cryptocurrency-based payment service that uses the NPP Australia’s PayID service name and brand, and to prevent misleading.”

Australia’s Native Name vs. Ripple

It seems that the application for the case was made on 20 August. NPPA has partnerships with 13 different banks in the country, including ANZ, Citi, HSBC, ING and the Australian Central Bank. This shows that the PayID service has already reached serious use in the country.

In the statement published by the NPPA, it was emphasized that two different products with the same name and serving in the same market will create confusion and may lead to fraud and fraud. It is seen that NPPA acquired the rights to use the “PayID” brand in 2017.

Although this situation is not as serious as the case in the USA, it still seems that this development is negative for Ripple and XRP cryptocurrency. It is not known whether the decline of XRP in the last 24 hours is related to this.

See Also
There is also a place for Ripple in the list prepared by CNBC

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