By 
A legal standoff is unfolding between cryptocurrency exchange Zap Africa and fintech giant Paystack over the use of the name “Zap.”
The dispute emerged after Paystack recently introduced a mobile app named Zap, designed to streamline bank transfers in Nigeria. While Paystack’s CEO, Shola Akinlade, clarified that the app is not a banking service but a tool for seamless money transfers, Zap Africa has raised objections, citing trademark rights.
Zap Africa’s Legal Position
Tobi Asu-Johnson, CEO of Zap Africa, has publicly announced the company’s intention to pursue legal action, asserting that the “Zap” brand name is a registered trademark.
“Our name is trademarked, and we’re on it. Zap’s legal team will be reaching out to Paystack shortly. Huge shoutout to everyone who brought this to our attention. Your support is invaluable!” Asu-Johnson stated in a post on X (formerly Twitter).
Reaffirming its position, the company further asserted in an official statement: “There is only one ZAP in Nigeria and Africa.”
Who is Zap Africa?
Zap Africa is a cryptocurrency exchange and non-custodial wallet platform that enables users to swap and transfer cryptocurrencies for Naira at competitive rates, facilitating seamless cross-border transactions.
As the legal dispute unfolds, the case underscores the increasing brand protection concerns within Africa’s growing fintech and digital asset sectors.
Comments