Circle Secures Acquisition of IBM's Extensive Blockchain Patent Collection Totaling Nearly 1,000 Patents
The comprehensive blockchain intellectual property collection from IBM encompasses over 680 patent families and close to 1,000 patents granted globally, primarily concentrated on supply chain technology implementations.
The company behind the USDC (USDC) stablecoin, Circle, announced on Monday that it has reached an agreement to purchase IBM's complete blockchain patent collection.
Circle's official announcement provided no information regarding the monetary terms of the deal. Data from Yahoo Finance indicates that CRCL stock experienced an uptick of over 2% during Monday's premarket trading session in response to the news of the acquisition.
The intellectual property collection includes more than 680 patent families alongside nearly 1,000 patents that have been granted across global jurisdictions. According to Circle, this acquisition establishes the company as the foremost holder of blockchain patents within the United States, creating an intellectual property foundation that directly bolsters the fintech firm's mission of constructing the internet-based financial infrastructure.
The blockchain innovation efforts from IBM have concentrated significantly on supply chain use cases, which aim to enhance visibility and transparency when monitoring products as they move through multiple intermediary parties. According to research conducted by GreyB, the technology giant has reduced its blockchain patent submission activity in recent years compared to its peak period of 2018-2019, during which IBM filed over 500 blockchain-related patent applications.
"IBM has been a pioneer in technological innovation, and this acquisition expands Circle's ability to advance the infrastructure that powers global, internet-native finance," said Sarah Wilson, general counsel and corporate secretary at Circle.