USDC

Read

zkSync

BlackRock

<p class="is-style-lead">Circle will allow the direct conversion of BlackRock’s tokenized fund shares into its USDC stablecoin.</p>
<p>According to Cricle’s&nbsp;<a href="https://www.businesswire.com/news/home/20240411966052/en/Circle-Announces-USDC-Smart-Contract-for-Transfers-by-BlackRock%E2%80%99s-BUIDL-Fund-Investors" target="_blank" rel="noopener noreferrer nofollow">announcement</a>, a new smart contract feature will enable BlackRock USD Institutional Digital Liquidity Fund (BUIDL) investors to instantly convert their shares to Circle’s USDC stablecoin. The smart contract is designed to offer a “near-instant” off-ramping option for BUIDL, making it accessible to investors around the clock.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Today <a href="https://twitter.com/circle?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@circle</a> announced new features enabling <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@blackrock</a> BUIDL customers to use <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDC</a> for transfers, enabling seamless onchain integration with their breakthrough tokenized fund. <a href="https://t.co/8bYXdHzS9S" target="_blank" rel="noopener noreferrer nofollow">https://t.co/8bYXdHzS9S</a></p>— Jeremy Allaire (@jerallaire) <a href="https://twitter.com/jerallaire/status/1778416442691428778?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In March,&nbsp;<a href="https://crypto.news/blackrock-adds-authorized-participants-bitcoin-etf-aps/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>&nbsp;introduced its inaugural tokenized investment vehicle, the BlackRock Digital Liquidity Fund (BUIDL), providing investors access to yields denominated in USD. Specifically, shares are issued as tokens on the Ethereum blockchain, leveraging the ERC-20 token standard, underpinning the BUIDL token.</p>
<p>You might also like: <a href="https://crypto.news/sec-dapper-labs-investigation/" rel="noopener noreferrer nofollow"> SEC secretly investigated NFT developer Dapper Labs in 2023 </a></p>
<p>The BUIDL token allows participants to buy into the fund, which primarily invests in short-term financial instruments, including U.S. Treasury bills, representing a move towards digitizing traditional financial assets.</p>
<p>BlackRock’s iShares Bitcoin Trust is one of the largest spot Bitcoin ETFs, currently holding over $18.5 billion. It also has the largest cumulative&nbsp;<a href="https://sosovalue.xyz/assets/etf" target="_blank" rel="noopener noreferrer nofollow">net inflow</a>, at $14.95 billion. With the latest collaboration with Circle, the investment management fund will broaden the utility and appeal of BUIDL.</p>
<p>In recent weeks, Circle has embarked on several strategic initiatives to expand its influence within the blockchain industry. The company&nbsp;<a href="https://crypto.news/circle-native-usdc-zksync-ecosystem/" target="_blank" rel="noopener noreferrer nofollow">integrated</a>&nbsp;its USDC stablecoin natively into the zkSync ecosystem, enhancing transactional efficiency and scalability. Additionally, Circle has partnered with Solana to introduce its cross-chain transfer protocol into the Solana blockchain ecosystem.</p>
<p>Read more: <a href="https://crypto.news/do-kwon-extradition-approved-again/" rel="noopener noreferrer nofollow"> Montenegrin court approves Do Kwon’s extradition once again </a></p>

Circle facilitates USDC swap for BlackRock’s tokenized fund

crypto.news

Other articles published on Apr 11, 2024

JasmyCoin (JASMY) Poised for an ‘Upside Breakout’, as PENDLE’s Bull Run Continues: Key Indicators...

Bitrace Trains Hong Kong Police in Crypto Fund Tracking

Sebi’s World-Firsts Overshadowed by Market Flaw

DWF Liquid Markets Lists Eight Tokens Including $PROM, $DUSK, and $COTI

Uniswap price tanks 10% as team vows to fight SEC threat

Worldcoin Reaches 10 Million Users with Daily Surge

Join our free newsletter for daily crypto updates!