The TokenPocket app was removed from the App Store this week due to what appears to be a disagreement between the company and payments giant PayPal.
In a statement on its website dated Nov. 4, TokenPocket said its app was removed from the App Store Nov. 3. It recently received a lawyer’s letter about the dispute, which led to PayPal unilaterally filing a complaint.
TokenPocket claims innocence.
“We attach great importance to this and dispatched professionals to conduct research on both sides’ trademarks, sorting out, and communicating in detail in the form of pictures and texts to explain the differences on both sides’ trademarks,” the statement reads. “We want to resolve them in a friendly negotiation way, and PayPal has no more replies to this.”
TokenPocket’s was founded late in 2017 and less than a year in the company attracted investments from Huobi, Hofan and Collinstar. In 2019 they announced support for BOS Chain along with the IOST and ETH decentralized apps. Later that same year TokenPocket also supported TRON, Binance Chain and BTC. They said they currently have tens of millions of users across more than 200 countries and regions. Their system supports additional chains and cryptocurrencies including EOS, Polkadot, BSC, HECO, Cosmos, MOAC, and Jingtum.
Communications with App Store officials are continuing in an “effective” manner, TokenPocket said.
“We hope to settle the dispute through friendly negotiation with PayPal,” they stated. “At the same time, we also reserve the legal means to defend our rights.”
This is not the first time PayPal has taken action against a company for allegedly infringing on its trademark. In May of 2017, they filed a lawsuit in the US District Court for the Southern District of New York, seeking legal costs, damages, and an order demanding Pandora stop using its blue “P” logo. PayPal included 110 pages of examples of customer confusion it said was attributable to similar logos.