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Mobile Banking App Sues Facebook's Calibra Over Similar Logo

Representative image. (Photo: Reuters)

Representative image. (Photo: Reuters)

The logos for the mobile banking app, and Facebook's Libra cryptocurrency project, were both designed by the same San Francisco firm, which is also a defendant in the lawsuit.

Facebook's Libra cryptocurrency project has hit another roadblock, as a mobile banking app has sued its Calibra subsidiary over similar logos. Interestingly, both the logos were designed by San Francisco-based branding firm 'Character', which has also been named as a defendant in the lawsuit. According to the lawsuit filed by a mobile banking firm named Current, Calibra's logo "is not only confusingly similar to but virtually identical to the Current Marks".

It's still unclear how it happened, but Current had filed an application for its logo on June 26, a few days after Calibra was unveiled, Engadget reported on October 13, quoting CoinDesk. Calibra was introduced as the division that would oversee Facebook's cryptocurrency plans, including the development of a digital wallet. Meanwhile, several companies such as Visa, Mastercard and eBay pulled out of the Libra cryptocurrency project ahead of their first meeting in Geneva on October 14. PayPal was the first to announce its withdrawal from the Libra Association, the 28-member non-profit organisation formed by the social networking giant for the global rollout of its digital currency Libra in 2020.