Mobile Banking Firm, Current Sues Facebook’s Calibra for Similar Logo

A startup bank, Current, has filed legal action against Facebook’s Calibra logo. Calibra is a wallet application for Facebook’s digital currency, Libra. This platform works on the blockchain technology. Recently, Facebook launched Libra wallet, which has to face a lot of issues because of its similar logo to the Current mobile banking company. 

The company has claimed on four suspects: Facebook, Calibra, IP Owner of Calibra, and Logo Design agency, Character. It is reported that Character designed both logos. It is the reason that it is also in the list of suspects. 

Current states that their company was founded in August 2016, and they started using the Current logo from the very first day. On the other hand, Facebook and its Calibra logo are introduced in June 2019. 

The member of the Intellectual Property Department of Pepper Hamilton LLP, Howard Shire, said that it is shocking that the defendant’s logo is similar to the logo designed for the Plaintiff. 

The CEO of the Current startup, Stuart Sopp, realized the similarities between their company and Calibra’s logo. He said that Character designed a logo for them in 6 months. He continued that Facebook is widespread, and there is no issue with money and resources. They should take care of their branding ideas. 

It is reported that Facebook is facing some issues from the privacy of the user to the political campaigns. But, now, this one is a significant issue that Facebook is facing. 

It takes a lot of time to know the complete details of this case. The issue of similar logos of two different organizations is not yet clear. Three years back, Character designed a logo for Current, then why they have not developed a unique logo for Facebook.  On the other hand, many companies like Visa, eBay, and Mastercard dragged out of the cryptocurrency project of Facebook. Paypal was the first one who withdraws itself from the Libra Association, which is a non-profit organization of 28 members. 

Veronica Maki

Veronica Maki is FinancePlush's news editor. She always help junior writers with her recommendations of what you should be writing and what to post. She also writes in-depth news articles on recent events of finance and banking industry.

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