ABBC Foundation, a Dubai and Belarus based cryptocurrency company has announced it will no longer use the “ Alibabacoin” terminology and all associated trademarks after the lawsuit with AliBaba Group Holding and the subsequent settlement.
The firm also known as Alibabacoin Foundation has stated it regretted any public confusion arising from its “former use of Alibabacoin.” Its cryptocurrency is now called ABBC Coin.
For those not familiar to ABBC foundation, in its white paper it states that it is an open platform built on DLT designed to develop digital crypto currency markets. They also state that in the future they will create an e-commerce platform (online shopping) with payment solution for user convenience using ABBC coins.
The ABBC foundation recently launched their multi-crypto wallet.