Circle Enables Support for USDC Smart Contracts for a BlackRock’s Fund

Circle has incorporated smart contract capabilities for investors in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This move enables BUIDL holders to easily transfer their shares to Circle, as stated in a release published on Thursday.

According to Circle’s Co-Founder and CEO, Jeremy Allaire, this integration of USDC allows investors to swiftly and seamlessly convert tokenized assets while reducing costs and eliminating barriers.

He expressed excitement about providing this feature to BUIDL investors and offering them the underlying advantages of blockchain transactions through USDC availability.

In April 2022, BlackRock invested in Circle’s $400 million funding round, leading to a partnership between the two companies.