Streamlining Investments with USDC for BlackRock’s BUIDL Fund
Tokenization firm Securitize has introduced a system allowing conversions between Circle’s USDC and USD for BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). This new setup, in collaboration with Zero Hash, is designed to ease the subscription process and lower investment costs for traditional finance investors entering the fund.
Enhanced Efficiency and On-Chain Transparency
The conversion service aims to keep digital asset transactions within the blockchain ecosystem for faster settlements and transparent transactions. According to Securitize’s CEO Carlos Domingo, this on-chain integration allows companies to handle investments efficiently throughout the lifecycle of their digital assets. Qualified investors can now invest in BUIDL, one of the largest tokenized treasury funds, valued at $550 million.
Growing Popularity of Tokenized Funds
BUIDL, which launched earlier this year, represents a larger trend of tokenized real-world assets in traditional finance. Other blockchain-based investment products have gained traction recently, with companies like Guggenheim and Midas launching tokenized commercial paper and treasury products. These funds offer benefits like improved liquidity, quick settlements, and minimized operational costs.
Source:
Decrypt
