Circle acquires nearly 1,000 IBM patents

• Circle bought more than 680 blockchain patent families with nearly 1,000 issued patents from IBM.
• The companies did not disclose the deal value, while Circle shares rose about 3.7%.
• Circle said the patents will support USDC, Circle Payments Network, Arc and other blockchain products.

Circle bought more than 680 blockchain patent families with nearly 1,000 issued patents from IBM to support USDC and other blockchain products.

Circle said the deal makes it the largest blockchain patent holder in the United States, while the purchase price remains undisclosed.

“Intellectual property is critical to advancing our mission and expanding adoption of onchain infrastructure,” said Circle General Counsel and Corporate Secretary Sarah Wilson.

The patents cover blockchain, banking, insurance, supply chains and cloud technology, while Circle said it will explore more business opportunities with IBM.

Circle said the patents will support USDC, Circle Payments Network and Arc, while its share price rose about 3.7% to US$64.67.

Circle recently won approval to launch Circle National Trust Bank and partnered with Standard Chartered to expand access to USDC.

The deal grows Circle's patent portfolio as competition increases across stablecoins and blockchain technology.