Key Takeaways
- By purchasing 70% of IBM’s blockchain portfolio, Circle became the top US holder of these patents.
- The 1,000-patent acquisition bolsters Circle’s infrastructure for internet financial systems like USDC.
- Though deal terms are undisclosed, the firms are exploring new commercial ventures and future acquisitions.
Circle is making significant investments in intellectual property to support the expansion of its digital asset business.
The digital financial services company announced on Monday a deal that includes the acquisition of “fundamental assets” from the blockchain patent portfolio of International Business Machines Corporation (IBM), a leader in the decentralized Intellectual Property (IP) space.
According to Circle, the deal included the purchase of nearly 1,000 patents across 680 patent families, spanning blockchain technology, banking, financial services, insurance, enterprise infrastructure, supply chain verification, and secure cloud operations.
IBM was one of the pioneers in launching enterprise-supported blockchain services for businesses, declaring that blockchain was “open for business” in a decentralized services push back in 2016.
Earlier reports suggest that IBM held nearly 1,450 blockchain-related patents, with over 500 filings in 2018 and 2019, topping the patent recipient ranks for 2019. Filings decreased in the following years as the company adopted a policy of focusing on high-quality, monetizable patents.
This means the 1,000 patent purchase represents a takeover of nearly 70% of IBM’s blockchain patent business.
Circle now claims the crown in the blockchain patent department, and declares that this move will help it support its internet financial system proposal, including USDC, one of the largest stablecoin by market capitalization; Circle Payments, Arc, and onchain agentic opportunities.
“Intellectual property is critical to advancing our mission and expanding adoption of onchain infrastructure. 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,” Sarah Wilson, General Counsel and Corporate Secretary at Circle, declared.
Financial details of the deal were not revealed. Nonetheless, the two companies stressed that they were exploring additional commercial opportunities, hinting at additional acquisitions that might also be related to IBM‘s patent business.
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