Fintech Wirex Wins Court Ruling in Favour of Cryptoback Trade Mark prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Wirex wins High Court battle over ‘Cryptoback’ trademark
Digital payment platform Wirex has won its High Court battle over the use of its ‘Cryptoback’ Bitcoin reward scheme.
In a hearing which began in January, Wirex founders Pavel Matveev and Dmitry Lazarichev argued the owners of Cryptocarbon Global Ltd, Cryptocarbon UK Ltd and Bee-One UK Ltd had infringed London-based Wirex’s ‘Cryptoback’ trademark.
The Cryptoback scheme gives up to 1.5% of the transaction value back to customers in Bitcoin who use their Wirex card for in-store purchases.
Giving evidence for the defendants, Mr Subash George Manuel, claimed his companies had started using ‘Cryptoback’ from 2017 in good faith, and that Wirex’s registering of the trademark was invalid.