USDC issuer Circle to acquire nearly 1,000 IBM blockchain patents
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
AI-assisted summary based on the linked source. Verify market-moving details at the original publisher before acting.
Circle, the issuer of the USDC stablecoin, announced on Monday that it is set to acquire nearly 1,000 issued blockchain patents globally from IBM. The portfolio includes over 680 patent families, with IBM’s blockchain patents primarily focused on supply chain applications that enhance transparency in product tracking across multiple intermediaries. Financial details of the transaction were not disclosed.
Following the announcement, Circle’s stock price (CRCL) rose by more than 2% during premarket trading, based on data from Yahoo Finance. Circle stated that this acquisition establishes it as the leader in blockchain patent holdings in the United States, significantly strengthening its intellectual property position. The company views these patents as foundational to its goal of building an internet-based financial system.
IBM has historically been a major innovator in blockchain technology, filing over 500 related patents around 2018-2019, although the rate of new filings has since slowed. Sarah Wilson, Circle’s general counsel, highlighted that IBM’s expertise positions Circle to further develop global, internet-native financial infrastructure.
The article emphasizes Circle’s strategic move to strengthen its blockchain capabilities through this significant acquisition from a technology pioneer like IBM, underscoring its long-term commitment to advancing fintech infrastructure.