BlackRock's Tokenized Fund Gets USDC Cash-Out Option Via Circle Integration
Investors in BlackRock's history-making tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), now have a way to quickly and easily convert their holdings into (CRYPTO: USDC) stablecoin, thanks to a new collaboration between BlackRock (NYSE:BLK) and Circle Inc. What Happened: The stablecoin issuer on Thursday announced the development of a smart contract specifically designed for BUIDL. This innovative technology allows BUIDL investors to seamlessly trade their fund shares for USDC, essentially “cashing out” their investment 24/7 in a near-instantaneous process.