Finco Services, initiated a lawsuit against Facebook on October 10, in a New York court over there well branded Libra coin logo. The company is claiming unfair competition, false designation of origin, and trademark infringement for the swirly tilde logo.
Facebook is also suing its former graphic designer who created the logo for reusing the design.
Finco provides online banking services through mobile apps. The company also goes under the name “Current”. The logo in question was designed and registered by the US patent and trademark office in 2016. The registration covered business activities that were in connection with mobile computer software applications that enable cryptocurrency transactions.
Facebook hired Character SF, a San Francisco based branding and design agency to design the proposed cryptocurrency, Libra. The resulting design features numerous Tilde shapes which is identical to the logo used by Finco which can be seen on their app and debit cards.