ChainCatcher reported that according to Decrypt, the tokenization platform Securitize announced the launch of a conversion service between Circle stablecoin (USDC) and the US dollar, dedicated to BlackRock's US Dollar Institutional Digital Liquidity Fund (BUIDL).
Securitize said in a statement that the integration is designed to reduce investment costs and simplify the subscription process for traditional financial investors to the BUIDL fund. The company worked with BlackRock to issue BUIDL tokens on the Ethereum blockchain.
Blockchain infrastructure company Zero Hash will support conversions between U.S. dollars and digital assets for the service, which is aimed at accredited investors and aims to accelerate investment in the BUIDL fund, which is valued at about $550 million, according to Etherscan, making it one of the largest of its kind.
