Ripple has registered a new trademark, called PayString
It is probably a potential new product of the company, presumably linked to a payment service.
The application for registration of the new trademark was filed at the end of last week at the US Patent and Trademark Office (USPTO), and is classified in the generic categories “Advertising and Business” and “Insurance and Finance”.
Ripple and the new PayString trademark
There is not much detail in this respect other than that the PAYSTRING™ trademark registration is intended to cover the categories of electronic financial services, namely “monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network and for exchanging fiat currencies and virtual currencies over a computer network”, and “receiving and disbursing payments and monetary gifts in fiat currencies and virtual currencies over a computer network”.
In addition, the codes referred to are that of electronic financial services, but also that of currency exchange services, i.e. “exchanging fiat currencies and virtual currencies over a computer network”, financial transaction verification services, i.e. “delivering remittances and monetary gifts from a source to a destination”, financial management and administration services, peer-to-peer network IT services, i.e. “transmission of digital currency via electronic communication networks”, software-as-a-service, i.e. “electronic transmission of financial data over electronic communications networks” and electronic data storage, i.e. “storage of virtual currency”.
It is therefore very difficult to imagine clearly with which product this new trademark could be associated, but a very vague and general idea can be reached, also by virtue of Ripple’s business model, which is precisely to provide a technology based on distributed ledgers for payments mainly between institutions, banks and payment service providers.
It is worth noting that the term “paystring” in technical IT jargon can also refer to information regarding the current status of a loan, so Ripple’s new product may also involve the world of lending.