USDC stablecoin issuer Circle recently revealed allowing transfers of shares from BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) to its stablecoin.

In its official statement, Circle announced a new smart contract functionality that would allow holders of BlackRock’s BUIDL fund to transfer their shares to Circle for USDC. According to the stablecoin issuer, the smart contract provides BUIDL investors with a near-instant, 24/7 BUIDL exit ramp that brings the key benefits of tokenized assets: speed, transparency, and efficiency.

Jeremy Allaire, the co-founder and CEO of Circle, commented on the company’s new feature highlighting that “tokenization of real-world assets is a rapidly emerging product category.”

“Asset tokenization is just one important dimension to solving investors’ problems. USDC allows investors to quickly exit tokenized assets, reducing costs and eliminating friction. We are excited to provide this functionality to BUIDL investors and deliver the key benefits of blockchain transactions through the availability of USDC to investors.”

Circle highlighted in its statement that the recent launch of BUIDL marked a very significant step in the progress of asset tokenization. The fund offers a glimpse into the future of finance with blockchain technology, focusing on enabling seamless integration between digital assets and the real world.

“Circle’s innovative smart contract functionality enables the frictionless transfer of BUIDL shares from USDC to Circle in the secondary market. USDC provides a reliable and transparent method for users who want to sell their BUIDL shares but remain holders of digital dollars,” the company highlighted.

At the time of publication, the price of USDC was quoted at US$0.9992 with no increase in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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