Circle Stock Soars 4% After Acquiring IBM Blockchain Patents

Circle Internet Group Inc., the parent company of USDC stablecoin issuer Circle, has seen its stock price rise by nearly 4% after acquiring a significant portion of IBM's blockchain patent portfolio and reporting a surge in USDC transaction volumes.

The acquisition of over 680 blockchain patent families and nearly 1,000 issued patents from IBM marks a major expansion of Circle's intellectual property assets. This move has been met with bullish momentum, with the company's stock trading above all key daily moving averages.

USDC transaction volume has grown by 209% year-over-year, with the company maintaining positive cash flow and no long-term debt. Circle also announced plans to launch its Arc Layer 1 blockchain mainnet on September 16.