Circle, the issuer of USDC, announced a new smart contract functionality that allows holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to transfer their shares to Circle for USDC. As reported by Circle, this smart contract provides BUIDL investors with a near-instant, 24/7 off-ramp, leveraging the core benefits of tokenized assets: speed, transparency, and efficiency.
Jeremy Allaire, Co-founder and CEO of Circle, emphasized this development’s significance, stating,
“Tokenization of real-world assets is a rapidly emerging product category. Tokenizing assets is but one important dimension of solving investor pain points. USDC enables investors to move out of tokenized assets at speed, lowering costs and removing friction.
We’re thrilled to provide this functionality to BUIDL investors and deliver the core benefits of blockchain transactions via USDC availability to investors.”
BlackRock’s BUIDL fund, officially named the BlackRock USD Institutional Digit
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