Circle Takes Control of Blockchain Patent Space with IBM Acquisition
Circle, a leading digital financial services company, has made a significant move in the blockchain patent space by acquiring nearly 1,000 patents from IBM. This acquisition represents a takeover of about 70% of IBM's blockchain patent business and catapults Circle to become one of the largest holders of blockchain patents in the US and internationally.
The deal encompasses patents issued worldwide across 680 patent families, covering various areas such as blockchain technology, banking, financial services, insurance, enterprise infrastructure, supply chain verification, and secure cloud operations. This acquisition is expected to support Circle's expansion of its digital asset business, particularly for its internet financial system proposal, which includes USDC, one of the largest stablecoins by market capitalization.
Circle's General Counsel and Corporate Secretary, Sarah Wilson, stated that intellectual property is critical to advancing their mission and expanding adoption of on-chain infrastructure. Although the deal terms are undisclosed, both companies are exploring new commercial ventures and potential future acquisitions related to IBM's patent business.