Qualified investors can now subscribe to BlackRock’s USD Institutional Digital Liquidity Fund by converting USDC stablecoins to U.S. dollars via an integration between tokenization firm Securitize and crypto-as-a-service infrastructure platform Zero Hash, according to an announcement on Tuesday. 

BUIDL is the largest fund for real-world assets of its kind, with approximately $550 million in assets under management as of Oct. 15. It invests directly into U.S. Treasurys and repo agreements, which earn onchain token holders yield. Like stablecoins, the fund’s BUIDL tokens are designed to maintain a peg to the U.S. dollar. 

"The introduction of the integration feature between USDC to USD to allow investors to subscribe into BUIDL has been in high demand since the launch and we expect this will further accelerate adoption of the fund,” Carlos Domingo, Securitize co-founder and CEO, said in a statement. 

Zero Hash is a FinCen-registered money service business and a regulated money transmitter. 

Stablecoin issuer Circle first enabled BUIDL holders to transfer their shares to receive USDC in April.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.