When Blackrock comes to the game
BlackRock first tokenized fund can now be transferred to Circle using the USDC stablecoin
BlackRock's first tokenized fund can now be transferred to Circle using the USDC stablecoin.
Circle, the primary provider of the stablecoin USDC, has facilitated the conversion of shares from the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) into its stablecoin.
provide to Circle for USDC, Circle's smart contract functionality enables the frictionless transfer of BUIDL shares for USDC to Circle in the secondary market,
enabling near-real-time BUIDL smart contract based on this announcement, which is 24 It is hourly. It serves investors.
The BlackRock USD Institutional Digital Liquidity Fund, BlackRock's inaugural tokenized fund, is now transferable to Circle using the USDC stablecoin.
Launched by BlackRock in March 2024, BUIDL is a tokenized fund that runs on the Ethereum blockchain to provide US dollar returns through tokenization, BUIDL allows investors to purchase tokens which represents shares of the fund, which invests in assets such as US Treasury bills, the fund is known as a digital liquidity fund because it is digitized as a token on the Ethereum blockchain and as an ERC 20 token It acts as BUIDL.
When Black Rock enters the field, we should expect large capitals to enter the market.
According to the analysis team of Cryptotimes:
Black Rock's serious entry into cryptocurrencies can be a green light for other super companies.
BlackRock alone manages several trillion dollars.
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Comments
Coin hunter
With Blackrock's entry into the cryptocurrency industry, it should be expected that more global companies will enter this field and help to spread the use of crypto among businessmen.
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