US Bank hits crypto platform with TM suit
Minneapolis-based US Bank National Association has sued Voyager Digital in a bid to stop the cryptocurrency platform from using the ‘Voyager’ name.
In a suit filed Wednesday, May 18, US Bank claimed that Voyager Digital had adopted ‘Voyager’ for its debit card and debit card services “long after” US Bank developed trademark rights for the ‘Voyager’ mark in the US.
US Bank—a Fortune 500 company and the fifth-largest banking institution in America—uses ‘Voyager’ in connection with its credit card payment and information tracking services.
According to the suit, US Bank began using the mark as early as 1995, through the offering of the Voyager Fleet Card, which is used by businesses to pay for and track fleet-related expenses such as fuel purchases and maintenance costs. The bank also offers a companion mobile app.
US Bank owns two US trademark’s covering services including credit card services for fleet vehicle management and financial administration of credit card accounts.
Voyager Digital’s cryptocurrency payment system and mobile app allow users to acquire and trade Voyager crypto tokens, along with Bitcoin and other digital assets.
In May last year, Voyager Digital unveiled a loyalty programme, which provides 7% earnings on Voyager-held tokens, along with a debit card (with the Voyager name on the card) with cash back rewards.
US Bank claimed that it has received enquiries from customers asking about Voyager Digital and Voyager Digital’s debit card product.
According to the suit, the bank sent Voyager Digital a cease and desist letter in October 2021. Two months later, Voyager Digital’s affiliated company Voyager IP allegedly applied to register ‘Voyagerpay’ and ‘Crypto for all Voyager’ as trademarks.
The applications have not yet been examined and published for opposition, but US Bank will challenge those applications, it said.
The complaint added: “Voyager Digital’s unauthorised use of VD’s infringing mark enables Voyager Digital to trade on and receive the benefit of goodwill US Bank built up at great labour and expense over many years, and to gain acceptance for its goods and services not solely on their own merits, but on the reputation and goodwill of US Bank, the Voyager mark, and US Bank’s goods and services.”
US Bank has asked the court for injunctive relief, destruction of the allegedly infringing goods, and triple damages.
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