Budget airline easyJet’s founder, Stelios Haji-loannou, plans to launch a crypto trading platform, easyBitcoin, this month. The new trading platform was created through a licensing deal with the regulated cryptocurrency exchange platform, Uphold.
Haji-lannou said the initiative aims to mitigate high trading commissions. He also aims to make buying and selling Bitcoin fairer, more transparent, and more economical. easyJet’s official believes that competition can lower trading fees, arguing that it holds the crypto industry back.
easyBitcoin allows users to purchase BTC and earn rewards on investments
According to a report by Bloomberg, easyBitcoin is meant to allow users to purchase Bitcoin and earn rewards on their investments. Haji-lannou hopes the venture into the crypto industry will allow the company to compete with crypto-native firms like Coinbase and Kraken, which have provided crypto-trading services for years.
Haji-lannou’s plan to launch easyBitcoin adds to the flurry of brands found under the easyGroup’s umbrella, which includes gyms, waste disposal companies, and coffee shops. He also said he plans to bring digital asset trading to the people.
CEO of Uphold, Simon McLoughlin, believes that easyBitcoin’s reward system is suited for the huge number of individuals who want to indulge in Bitcoin. According to the report, easyBitcoin will have a 1% welcome bonus and a 4.5% annual percentage yield on USD balances.
The aviation mogul claimed that the initiative isn’t just about technology, but about financial empowerment and making Bitcoin a practical investment option for all. Haji-lannou said his crypto venture came at a time when the political landscape around digital assets was changing, referencing U.S. President Donald Trump’s influence in making Bitcoin mainstream. He believes the current regulatory clarity and governmental support are at a level that adds significant weight to his strategic decision.
easyGroup loses trademark infringement cases
Aside from Haji-lannou’s new crypto venture through his investment vehicle easyGroup, the executive has been in continued legal battles over the use of the trademarked ‘easy.’ The group had previously accused Premier Inn of trademark infringement.
The Whitebread-owned budget hotel has been using the word ‘Rest easy’ since April 2021 in its advertising campaigns, social media pages, websites, and in-hotel signage. easyGroup sued the hotel for trademark infringement, claiming that it used a phrase that was detrimental to the distinctive character of the group’s trademarks.
On September 1, a judge ruled against the London-based venture capital conglomerate and said Premier Inn did not infringe the trademark with the use of the phrase ‘Rest easy’ in its branding. The High Court claimed that easyGroup did not have any exclusivity in the hotel industry for its ‘easy,’ which garners protection under trademark law.
The judge argued that even though the conglomerate had exclusivity in the use of the word ‘easy’ within the hotel space, Premier Inn used that word only in the phrase ‘Rest easy,’ which dilutes the word ‘easy’ when used alone. He added that both terms do not mean the same thing to him or the average consumer, let alone in the context in which they were being used.
The High Court described the investment capital group as a frequent litigator in the protection of its trademarks. Haji-loannou was not pleased with the court’s ruling, claiming that its decision contained errors of law. He also vowed to appeal the judgment.
easyJet also lost a copyright infringement case against fundraising platform easyfundraising. The case, which began in February 2022, was ruled in easyfundraising’s favor last year. The court ruled that there was no infringement of easyJet’s trademarks.
Haji-loannou’s conglomerate appealed the judgment, and the Court of Appeal said last month that the appeal had failed in relation to infringement but succeeded in respect to revocation. easyfundraising ‘s chief executive, James Moir, said the case took up many months of the company’s management and business time that could have been spent on its core business of helping charities and good causes.
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Source: https://www.cryptopolitan.com/easyjet-empire-with-crypto-bitcoin/
