Circle, the issuer of USDC (USDC), said Monday that it will acquire IBM’s blockchain patent portfolio, adding a large collection of intellectual property covering blockchain-related technologies.

Financial terms of the transaction were not disclosed in Circle’s announcement. Circle’s CRCL shares were up more than 2% in Monday premarket trading after the announcement, according to Yahoo Finance data.

The portfolio includes more than 680 patent families and nearly 1,000 issued patents worldwide. Patent families typically group related patent filings across jurisdictions, making the size of the portfolio relevant not only by patent count but also by geographic coverage. Circle said the acquisition positions the company as the leader in blockchain patent holdings in the United States and strengthens its intellectual property base as it works to build infrastructure for what it calls the internet financial system.

The deal adds enterprise blockchain intellectual property from IBM to a company best known for issuing a dollar-backed stablecoin, underscoring how stablecoin issuers are increasingly framing their businesses around broader financial infrastructure rather than token issuance alone.

IBM’s blockchain work has focused significantly on supply chain applications, which are designed to improve transparency when products move through multiple intermediaries. IBM has also explored blockchain-based patent initiatives, including work with IPwe on patent-related non-fungible token applications, according to a 2021 IBM announcement.

Research firm GreyB said IBM’s blockchain patent filings have slowed in recent years from their 2018–2019 peak, when more than 500 blockchain-related patents were filed.

“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,” said Sarah Wilson, general counsel and corporate secretary at Circle.