Circle Announces USDC Smart Contract for Transfers by BlackRock’s BUIDL Fund Investors

USDC powers near-instant, 24/7 transfers at the speed of the Internet

BOSTON--(BUSINESS WIRE)--Today, Circle, a global digital financial technology firm and the issuer of USDC, announced new smart contract functionality that would allow holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to transfer their shares to Circle for USDC. This smart contract provides BUIDL investors with a near-instant, 24/7 BUIDL off-ramp that brings to bear the core benefits of tokenized assets: speed, transparency and efficiency.

“Tokenization of real-world assets is a rapidly emerging product category,” said Jeremy Allaire, Co-founder and CEO of Circle. “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.”

The recent launch of BUIDL marked a significant milestone in the progress of tokenizing assets. The fund provides a glimpse of the future of finance with blockchain technology enabling the seamless integration of digital and real-world assets.

Circle’s breakthrough smart contract functionality enables the frictionless transfer of BUIDL shares for USDC to Circle on the secondary market. USDC provides a trusted and transparent method for users looking to sell their BUIDL shares but remain holders of digital dollars.

About Circle

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USDC and EURC - highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com.