Circle will acquire IBM\u2019s blockchain patent portfolio, the USDC (USDC) issuer said on Monday.<\/p>\n
No financial details for the transaction were disclosed in Circle\u2019s announcement<\/a>. CRCL stock price was up more than 2% in premarket activity on Monday following the announcement, according<\/a> to Yahoo Finance data.<\/p>\n The portfolio comprises more than 680 patent families and nearly 1,000 issued patents worldwide. Circle said the acquisition positions it as the leader in blockchain patent holdings in the United States, with an intellectual property position that directly supports the fintech\u2019s foundation for building the internet financial system.<\/p>\n IBM\u2019s blockchain<\/a> focus has leaned heavily into supply chain applications, which seek to increase transparency in tracking products across numerous intermediaries. In recent years, it has slowed its patent filings from peak years 2018-2019, when more than 500 blockchain-related patents were filed, research firm GreyB said<\/a>.<\/p>\n \u201cIBM has been a pioneer in technological innovation, and this acquisition expands Circle\u2019s ability to advance the infrastructure that powers global, internet-native finance,\u201d said Sarah Wilson, general counsel and corporate secretary at Circle. <\/p>\n