Cryptoback – WireUp

Wirex, a leading digital payments platform, has succeeded in its High Court trade mark infringement claim regarding their UK registered trade mark for Cryptoback, which is used in conjunction with Wirex’s popular crypto rewards scheme.

The victory is against Cryptocarbon Global Ltd, Cryptocarbon UK Ltd and Bee-One UK Ltd in respect of their unauthorised use of the Cryptoback trade mark. Mr. Subash Manuel, a director of these companies, was held jointly liable for the infringing activities of Cryptocarbon Global Ltd and Cryptocarbon UK Ltd.

Wirex is an innovative crypto payments platform, giving customers the ability to buy, hold, exchange and sell up to 20 traditional and cryptocurrencies from a centralised, intuitive app. Cryptoback is one of Wirex’s most popular features, and the company is proud to have been the world’s first to offer a cryptocurrency rewards scheme. The programme automatically rewards customers up to 2% back in WXT, Wirex’s native token, for using their crypto-enabled debit card in-store or online.

Wirex issued its claim for trade mark infringement in September 2019 after discovering that the defendants were using the Cryptoback name in conjunction with a cryptocurrency rewards scheme. After a High Court trial in January this year, His Honour Judge Hacon found that Wirex’s Cryptoback trade mark was valid and infringed by the defendants, and all of their counterclaims (including to invalidate the Cryptoback trade mark) were dismissed.

The news comes at a significant time for Wirex, as they release a product overhaul, including their X-tras rewards programme. Building on the success of the crypto-rewards scheme and rewarding loyal customers, it offers enhanced Cryptoback rewards and up to 12% annual Savings Bonus on users WXT balance*. Last week, the company also announced their brand new crypto-enabled and multicurrency Mastercard debit card in the UK and EEA regions, with real-time point-of-sale conversion, exclusive interbank and OTC exchange rates, free international ATM withdrawals, zero monthly fees and free fiat-to-fiat exchanges.

Dominique Simon, Global General Counsel at Wirex remarked, “We are delighted that the Court has found in our favour after a long and hard-fought battle against these infringers. We would like to thank our legal team, Andrew Norris QC (Hogarth Chambers) and Brown Rudnick LLP, for all of their fantastic work in helping to deliver this outcome. We look forward to developing and expanding our Cryptoback program in the UK and worldwide, along with other exciting innovations. ”

Read the full judgment here: https://www.bailii.org/ew/cases/EWHC/IPEC/2021/617.html

To find out more about the new X-tras scheme, visit: https://wirexapp.com/blog/post/a-new-era-wirex-x-tras-programme-0280

To find out more about how Cryptoback works, visit: https://www.youtube.com/watch?v=J8QWzMUglbU

Digital payments platform, Wirex, today announced their partnership with Zero Hash to support their upcoming US launch. This will allow Wirex to launch their revolutionary product across the United States in April, giving over 300 million Americans instant access to crypto.

Utilizing the services of Zero Hash, a crypto trading infrastructure platform owned by Seed CX, Wirex, the London-based fintech will now be able to launch fully into 51 jurisdictions in the US.

The companies are shared advocates of the mass adoption of the digital economy. They also share the mission of empowering everyone to have straightforward access to crypto.

Wirex serves nearly 3.5 million people across more than 130 countries, in which they offer an award-winning product that allows users to buy, hold, exchange and sell up to 20 different traditional and cryptocurrencies from a single, and intuitive app. This is linked to a contactless crypto-enabled debit card, giving users the ability to spend crypto in over 61 million locations globally.

Wirex made headlines recently, by becoming only the second crypto-enabled company to receive Visa principal membership, and have imminent plans to launch X-Tras, upgrading their rewards scheme, Cryptoback. The feature will reward users up to 2% back in WXT on any purchases with their Wirex card.

Harold Montgomery, Managing Director of Wirex USA, has been leading the partnership and expressed his excitement about the upcoming launch: “Wirex has already proven hugely popular in other countries across the globe, so it’s exciting that we have reached one of our last big milestones in the run up to our US launch. It’s integral that we carefully select reliable and experienced partners such as Zero Hash for this to ensure that the Wirex product continues to give everyone cheap, seamless and safe access to crypto.”

This was complemented by Edward Woodford, CEO of Zero Hash, who said: “We are pleased that Zero Hash is powering Wirex’s US crypto expansion. Zero Hash provides the infrastructure enabling Wirex to rapidly expand into the United States, introducing an exciting product that is loved by clients globally to market there. Through the partnership, Wirex enables clients to seamlessly purchase and sell crypto, allows peer-to-peer crypto transfers and crypto rewards.”

With an ambition to reach 10 million customers by the end of 2021, the highly anticipated US-wide launch in April this year will play a key role in helping Wirex achieve this.

Tag: Cryptoback

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Wirex Partners with Zero Hash Ahead of US Launch

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