The issuer of the stablecoin USDC, Circle, has recently enabled the transfer of BlackRock’s institutional digital liquidity fund, BUIDL, shares to its stablecoin.
This was officially announced by Circle on April 11 through a new smart contract function. This functionality allows BUIDL holders to easily transfer their shares to Circle in exchange for USDC on the secondary market.
The smart contract ensures a smooth and quick off-ramp for investors, operating 24/7. BUIDL was launched in March 2024 by BlackRock as a tokenized fund on the Ethereum blockchain, offering US dollar yields through tokenization.
Investors can purchase tokens representing shares in the fund, which invests in assets such as US Treasury bills.
