In addition to Facebook’s regulatory concerns regarding the launch of Libra, the fintech company Current has sued Calibra for infringing the logo.
Calibra is developing a cryptocurrency wallet for the Libra project. A complaint filed with the U.S. Federal Court for the Southern District of New York claims that the Calibra logo is too similar to the Current logo that the company has been using since August 2016. Current requires a preliminary injunction and pecuniary compensation.
“The infringing sign accepted and used by Calibra is not just very similar to the Current logo, but is almost identical to it,” the complaint says.
Logo designs do have similar origin histories – both marks were created by Character branding from San Francisco, also named as the lawsuit. It is still unknown whether the same design team worked on the creation of logos.
In June, Current CEO Stuart Sopp told CNBC that Facebook is taking advantage of the fact that fintech company Current, which has launched a mobile banking application, is not large. He noted:
“Facebook has money and resources. If they really wanted to make banking more accessible and fair, they should offer their own ideas and branding, as we did. ”
Recall that the other day five companies announced their withdrawal from the Libra project. In addition, the Bank of England recently issued requirements for launching Libra in the UK, and US senators called on payment companies to reconsider their plans to participate in the project.
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