Mentioned:
CRCL +2.35% IBM +1.40%

IBM is selling part of their blockchain patent portfolio to Circle Internet Group. But, why?

What’s happening:

  • Circle Internet Group (NYSE: CRCL) has entered into a new deal with IBM (NYSE: IBM) to acquire fundamental assets from IBM’s blockchain patent portfolio

Why it matters:

  • IBM’s blockchain patent portfolio is focused on multiple different applications of blockchain technology including banking, financial services, supply chain verification and secure cloud operations

Going deeper:

  • IBM’s blockchain patent portfolio is comprised of more than 680 patent families and nearly 1,000 issues patents worldwide
  • Circle Internet Group just recently made major waves on Wall Street when they officially received approval from the United States Office of the Comptroller of the Currency to establish a national trust bank as as Circle Nation Trust

The fine print:

  • The financial terms of Circle Internet Group’s purchase agreement with IBM have not yet been publicly disclosed