Circle is set to revolutionize the investment landscape by allowing direct conversion of BlackRock’s tokenized fund shares into its USDC stablecoin. This new smart contract feature will provide investors in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) with the ability to instantly convert their shares into Circle’s USDC stablecoin, offering a seamless off-ramping option that is available 24/7.

In March, BlackRock unveiled its tokenized investment vehicle, the BlackRock Digital Liquidity Fund (BUIDL), which allows investors to access yields denominated in USD. The fund issues shares as tokens on the Ethereum blockchain, utilizing the ERC-20 token standard, with a focus on investing in short-term financial instruments like U.S. Treasury bills.

The BUIDL token enables investors to participate in the fund and represents a step towards digitizing traditional financial assets. With BlackRock’s iShares Bitcoin Trust being one of the largest spot Bitcoin ETFs, this collaboration with Circle will enhance the utility and appeal of BUIDL.

Circle has been making strategic moves in the blockchain industry, including integrating its USDC stablecoin into the zkSync ecosystem for improved transactional efficiency and scalability. Additionally, Circle partnered with Solana to introduce its cross-chain transfer protocol into the Solana blockchain ecosystem.

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