Few months back Facebook unveiled its Libra cryptocurrency and the Calibra subsidiary that would help manage it. Facebook also unveiled a logo for Calibra that looks somewhat similar to the logo of Current, a startup bank. Current is an alternative, app-based banking platform that in many respects shares Libra’s goal of opening up financial services to the masses.
Finco Services of Delaware has filed a lawsuit against the popular social media company and its subsidiary Calibra in New York in relation to the logo of the Libra project. Calibra is developing the Libra project’s digital wallet.
According to Finco Services, Facebook infringed trademark rules, and has engaged in unfair competition and used the logo illegally. Finco has registered the logo with the U. S. Patent and Trademark Office. The complaint was filed on 10th October 2019 in the U.S. District Court for the Southern District of New York, alleging that the Calibra logo is too similar to Current’s logo.
Finco Services has been using the logo since August 2016, while Facebook’s logo for Calibra was revealed in June of this year.
The logo designs have both been created by San Francisco-based branding firm Character, who is also a named defendant in the suit.
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