NPP Australia Ltd, the industry-wide payments platform for Australia, filed a lawsuit against Ripple Labs on August 20, over a trademark.
The lawsuit has been filed at the New South Wales Registry, in the Federal Court of Australia.
The lawsuit has been filed in relation to a trademark, possibly regarding Ripple’s recently launched PayID, a universal payment ID to simplify the process of sending and receiving money globally – across any payment network and any currency. Ripple released PayID on June 18, 2020, more than two years after NPP launched its own PayID, in February 2018.
The first hearing for the case has been set for this Wednesday, August 26. Ripple is also being accused of fraud and the sale of unregistered securities in the United States, in California. Ripple’s motion to dismiss the fraud allegations has been taken under submission by the court and a decision could be reached soon.