Ripple, the San Francisco-based blockchain payments infrastructure provider, has registered a trademark for a possible new product called “PayString.”

  • Filed with the U.S. Patent and Trademark Office (USPTO) late last week, the application is classified in the U.S. under the general categories "Advertising and Business" and "Insurance and Financial."
  • A logo for the branding takes the form of "a stylized circle design with four lines radiating from it" in multiple colors.
Ripple's PayString trademark filed November 2020
Source: Ripple/USPTO
  • It's tempting to speculate as to what the new trademark will be used for, but there's not a lot of information to go by.
  • The filing describes use cases in "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."
  • All of which does fit in with Ripple's existing business model of providing distributed ledger-based technology for payments between institutions such as banks and money senders, some of which use the XRP cryptocurrency.
  • The USPTO filing for RippleNet, the firm's primary offering, has the same description.
  • CoinDesk reached out to Ripple for more information but did not receive a reply by press time.

Also read: Ripple Opens Dubai HQ as Blockchain Firm Mulls Leaving US

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