Stablecoin issuer Circle Internet Group (NYSE: $CRCL) has purchased nearly 1,000 blockchain patents from technology giant IBM (NYSE: $IBM). In a news release, Circle said that the deal makes it the largest holder of blockchain patents in the U.S. IBM had been one of the largest U.S. blockchain patent holders before the sale to Circle, along with Bank of America (NYSE: $BAC). Circle said the patents will help support the evolution of its USD Coin (CRYPTO: $USDC) stablecoin, as well as its Circle Payments Network and Arc blockchain. IBM stock is down 18% over the past year and trading at $214.19 U.S. on July 27.