With every passing day, PayPal has been venturing more and more inside the cryptocurrency industry. Over time, the online payments services provider has also become an exchange for cryptocurrencies, building a strong empire over it.
Now, PayPal has come to a point where it is not willing to let any other cryptocurrency entity go that is trying to mess with the giant. Just recently, the payment services giant has gone after TokenPocket, a cryptocurrency wallet. The sources reveal that it is due to an alleged trademark infringement that PayPal has gone after TokenPocket.
Following the reports of trademark infringement, Apple has made a move that has raised many eyebrows. Apple has reportedly removed the application for the TokenPocket wallet from its App Store. However, it has been revealed that the wallet has been removed from the App Store for a temporary purpose.
It has been confirmed that the application for the TokenPocket wallet has been removed from Apple’s App Store on Thursday, November 4, 2021.
When approached for a comment, Apple confirmed the reason for removing the application for the wallet on its platform. The firm has revealed that it was due to the concerns shared by PayPal over the trademark issue that Apple made this decision.
Apple revealed that PayPal had raised a complaint with them sharing what disagreement it has with TokenPocket wallet. However, Apple has announced that for now, they have removed the application on a temporary basis. It is not known at present as to what the outcome of the complaint from PayPal is going to be.
TokenPocket has also confirmed that it has already received PayPal’s communication pertaining to the same concern. In the communication, PayPal has complained about the trademark issue that is very concerning for the firm.
TokenPocket stated that in the communication, it made clear that it was disputing their trademark and they had sent the communication at the beginning of 2021.
TokenPocket revealed that it has already sent a communication back to PayPal about what it plans on doing in regards to the trademark issue. The firm has revealed that it has all the intentions of trying and solving the problem with PayPal in a friendly.
The team behind the development of TokenPocket Wallet revealed that they have already replied back to PayPal with the same response. However, they haven’t heard back anything from PayPal, but they are hoping that the PayPal team will soon make contact.
According to the users of the TokenPocket Wallet, the application’s logo did resemble that of PayPal’s. The users had indeed shared their concerns through TokenPocket’s support channels. However, TokenPocket did not take the matter seriously because PayPal had not reacted to it before the recent communication.