USDC issuer Circle to acquire nearly 1,000 IBM blockchain patents

IBM’s blockchain portfolio includes more than 680 patent families and nearly 1,000 issued patents worldwide, with a particular focus in supply chain applications.

Circle will acquire IBM’s blockchain patent portfolio, the USDC (USDC) issuer said on Monday.

No financial details for the transaction were disclosed in Circle’s announcement. CRCL stock price was up more than 2% in premarket activity on Monday following the announcement, according to Yahoo Finance data.

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’s foundation for building the internet financial system.

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