Payments Firm Wirex Wins Trademark Infringement Case in UK High Court

The case was brought against several companies for their use of Wirex's registered trademark for its bitcoin rewards scheme.

AccessTimeIconMar 18, 2021 at 9:55 a.m. UTC
Updated Sep 14, 2021 at 12:28 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Payments platform Wirex has won a High Court trademark infringement claim in the U.K. against several businesses for the unauthorized use of the name of a cryptocurrency rewards scheme.

According to a press release on Wednesday from law firm Brown Rudnick LLP, Wirex has been successful in its legal bid against Cryptocarbon Global Ltd., Cryptocarbon UK Ltd. and Bee-One UK Ltd.

The infringement case was brought to trial in January against the defendants for their use of the registered trademark "Cryptoback." Wirex was the "world's first company" to use the term in its cryptocurrency rewards scheme, the law firm says.

Wirex has also been successful in getting the defendant's counterclaims, including an attempt to invalidate Wirex's trademark, dismissed.

The Cryptoback scheme offers a small percentage of the transaction value back to Wirex customers in bitcoin when using its card for in-store purchases.

The case highlights the importance for Wirex and other companies to protect and enforce their trademarks, according to Steven James, partner at Brown Rudnick. "This is especially true in the case of the crypto industry, which has seen rapid growth but also a large number of copycat or otherwise infringing offerings," he said.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.