Circle Scoops Up IBM's Blockchain Patent Portfolio

Circle has acquired over 1,000 blockchain patents from IBM, making it the largest holder of blockchain patents in the United States. The deal includes more than 680 patent families that cover various aspects of blockchain and fintech, including banking, financial services, insurance, cloud security, enterprise infrastructure, and supply-chain verification.

The acquisition comes at a time when Circle's stock has been under pressure due to new competition in the market. However, investors reacted positively to the news, with CRCL shares rising by 2.5% during premarket trading before Monday's session began.

Sarah Wilson, General Counsel and Corporate Secretary of Circle, stated that owning patents will help the firm build better on-chain financial infrastructure. 'Intellectual property is critical to advancing our mission and expanding adoption of onchain infrastructure,' she said.