Apple has removed the crypto wallet TokenPocket from its app store after PayPal complained about the wallet’s resemblance to its logo.
Apple Makes an Important Announcement
Apple officially announced on November 4 that it was removing the TokenPocket wallet from the App Store for the time being. According to the company, the removal was carried out in response to a complaint from PayPal regarding an alleged trademark violation.
According to reports, PayPal, the global payment company, had already sent its lawyers to notify TokenPocket about the trademark issue earlier this year. However, it appears that PayPal is leaving no stone unturned in its pursuit of TokenPocket for alleged trademark infringement.
Meanwhile, TokenPocket has confirmed that it did receive communications from PayPal regarding the trademark matter in the form of a letter earlier this year. The crypto wallet insists that they are more than willing to work with PayPal to resolve issues amicably.
Although TokenPocket did not state the specific complaints made by PayPal, it is clear that it is about the company logo. The company stated that it had hired top professionals to compare and contrast the trademarks of both parties.
Users Offer Their Thoughts on the Trademark Issue
Many online users have noted the striking resemblances between TokenPocket’s and PayPal’s logos. In fact, only three months ago, a Reddit user claimed to have accidentally clicked on PayPal while attempting to open TokenPocket.
So far, neither PayPal nor TokenPocket have issued any official statements about this new development.
TokenPocket was established in 2018 and has since supported major public blockchains such as Bitcoin, Ethereum, Polkadot Kusama, the Binance Smart Chain, and many others. The company currently has over tens of millions of users in over 200 countries.
PayPal, one of the largest payment companies in the world, will launch cryptocurrency-related services in late 2020.