San Francisco, June 21: Social networking giant Facebook has been accused of using a logo for its new cryptocurrency play, similar to the logo of an online banking company called 'Current'. Earlier this week, Facebook announced its own global digital coin called 'Libra', to be managed by a governing body called the Libra Association. Calibra is the name of the subsidiary that would run the wallet. Europe Wary as Facebook Takes Up Cryptocurrency Challenge.

According to the CEO of Current, Stuart Sopp, the logo for Calibra is similar to Current's logo, CNET reported on Thursday.

"This is a funny way to try and create trust in a new global financial system -- by ripping off another Fintech firm," the report quoted Sopp as saying.

"We put six months of hard work into this with that design firm, which they basically reused for Facebook without changing much -- Facebook is a big company that should have done their due diligence on this."

Sopp has revealed that both of the logos have been designed by the same San Francisco-based design firm called Character and both the logos feature a wave inside a circle.

The online banking company tweeted a picture of both the logos in one frame and captioned the post: "This is what happens when you only have one crayon left."

According to the media reports, Current is a consulting law firm Goodwin Procter to decide whether it has a trademark or patent infringement case against the social networking giant.

(The above story first appeared on LatestLY on Jun 21, 2019 05:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).