Circle Supports Conversion of BlackRock BUIDL Holders to USDC

Circle has announced a new smart contract feature that allows holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares to USDC, according to Business Wire. Circle's groundbreaking smart contract feature allows USDC's shares of BUIDL to be smoothly transferred to Circle in the secondary market. Circle's breakthrough smart contract feature allows USDC's BUIDL shares to be smoothly transferred to Circle on the secondary market, providing a credible and transparent method for those who wish to sell their BUIDL shares but still hold digital dollars. BlackRock previously invested in Circle's $400 million funding round in April 2022, which resulted in a partnership between the two companies.