Circle, the stablecoin issuer, has introduced a new feature in its smart contract that allows holders of BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. BUIDL is BlackRock’s first tokenized fund, which invests in cash, U.S. Treasury bills, and repurchase agreements. The shares are represented by blockchain-based tokens, and dividends are sent directly to investors’ wallets each month. Circle now offers a seamless off-ramp service for BUIDL investors, allowing them to convert their shares into USDC on the secondary market. This provides a trusted and transparent method for users to sell their BUIDL shares while still holding digital dollars. Circle CEO Jeremy Allaire believes that tokenization of real-world assets is a rapidly growing product category. USDC allows investors to exit tokenized assets quickly, reducing costs and eliminating friction. BlackRock launched BUIDL last month, with tokenization being a key focus of its digital asset strategy. By tokenizing the fund, BUIDL offers investors various benefits, including expanded access to on-chain offerings, instant and transparent settlement, and transfers across platforms.