Circle Buys IBM Blockchain Patent Portfolio
Circle, the issuer of the USDC stablecoin, has announced that it will acquire nearly 1,000 blockchain patents from IBM. The portfolio comprises over 680 patent families and nearly 1,000 issued patents worldwide.
The acquisition positions Circle as the leader in blockchain patent holdings in the United States, with a significant intellectual property position that supports its foundation for building the internet financial system.
IBM's blockchain focus has primarily been on supply chain applications, which aim to increase transparency in tracking products across multiple intermediaries. However, IBM's patent filings have slowed down significantly since the peak years of 2018-2019, when over 500 blockchain-related patents were filed.
Circle's General Counsel and Corporate Secretary, Sarah Wilson, said that '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.'