Circle, the stablecoin issuer, has introduced a new smart contract feature that allows holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. BUIDL is BlackRock’s first tokenized fund that 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 as new tokens every month. Circle now offers an off-ramp service for BUIDL investors, allowing them to easily convert their shares into USDC on the secondary market. This move aims to provide a trusted and transparent method for users who want to sell their BUIDL shares while still holding digital dollars. Circle’s CEO, Jeremy Allaire, highlights the growing trend of tokenizing real-world assets, and emphasizes how USDC enables investors to quickly and cost-effectively exit tokenized assets. BlackRock launched BUIDL last month, and the fund manager sees tokenization as a key focus of its digital asset strategy, offering numerous benefits to investors.