The Supreme Court of the United Kingdom has upheld Wirex’s claim against three cryptocurrency companies that used its registered trademark in their activities.
According to court documents, Cryptocarbon Global Ltd., Cryptocarbon UK Ltd. and Bee-One UK Ltd unlawfully used the Cryptoback trademark to describe cryptocurrency-reward schemes.
“Wirex was the first to offer a cryptocurrency rewards scheme named Cryptoback. It returns up to 2% of the transaction value to customers in the native token WXT,” — press release by Brown Rudnick LLP, which accompanied the suit.
The court dismissed the counterclaims and ruled that the director of the defendant companies, Subash Manuel, bears joint liability for the illicit activities of two of them—Cryptocarbon Global Ltd. and Cryptocarbon UK Ltd.
In May 2018, Wirex launched the Cryptoback cashback programme in Bitcoin.
In August 2018, the service received a licence to carry out electronic money operations from the United Kingdom’s Financial Conduct Authority (FCA).
In December 2020, Wirex became a fully fledged member of the Visa payments system, and in March 2021 launched a multi-currency Mastercard card with support for digital assets in the United Kingdom and the European Economic Area.
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