Circle Internet Group NYSE:CRCL shares climbed about 3% on Monday after the stablecoin company acquired assets from IBM NYSE:IBM covering its blockchain patent portfolio, according to a Monday company statement.
IBM shares also gained about 1.5%.
The acquisition includes more than 680 patent families and nearly 1,000 issued patents worldwide. The intellectual property spans blockchain applications across banking, financial services, insurance, enterprise infrastructure, supply chain verification and secure cloud operations.
Circle said the transaction will support development of its internet-based financial infrastructure, including USDC, the Circle Payments Network, Arc, and other onchain financial products. The companies also said they intend to explore additional commercial opportunities following the agreement.
Financial terms of the transaction were not disclosed. The patent acquisition expands Circle's blockchain technology portfolio as it continues building services tied to digital payments and tokenized finance.