Wall Street's growing interest in stablecoins could fast-track regulatory development in the US, potentially creating a private alternative to a central bank digital currency (CBDC). This follows the recent launch of off-ramps in USD Coin (USDC) for BlackRock's tokenized fund, marking another step towards integrating traditional finance with stablecoin providers. Circle, the issuer of USDC, recently launched a feature allowing holders of BlackRock's USD Institutional Digital Liquidity Fund to convert their shares into stablecoins, enhancing liquidity. BlackRock, a major investor in Circle, is already a significant player in the crypto industry.