Business
Australian banks bring legal proceedings against crypto giant Ripple – Sydney Morning Herald
A payments platform owned by Australian banks and the RBA has brought legal proceedings against Ripple Labs, alleging the cryptocurrency giant has copied its brand.
A payments platform owned by Australian banks and the Reserve Bank of Australia has brought legal proceedings against Ripple Labs, alleging the cryptocurrency giant has copied its brand.
San Francisco-based Ripple uses cryptocurrency for cross-border payments and in June the company, which is valued at over $US10 billion ($14 billion), launched a crypto-based “PayID” service with 40 partners.
However, the launch of Ripple’s PayID service in Australia is being challenged by the New Payments Pla…
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