Securitize launches conversion service for BlackRock BUIDL Fund and USDC

ChainCatcher news, according to Decrypt, the tokenization platform Securitize announced the launch of a conversion service between Circle's stablecoin (USDC) and the US dollar, specifically for BlackRock's US dollar institutional digital liquidity fund (BUIDL).

Securitize stated in a press release that this integration aims to reduce investment costs and simplify the subscription process for traditional financial investors into the BUIDL fund. The company is collaborating with BlackRock to issue BUIDL tokens on the Ethereum blockchain.

Blockchain infrastructure company Zero Hash will provide support for the conversion between US dollars and digital assets for this service. The service is aimed at qualified investors and is designed to accelerate investments into the BUIDL fund. According to data from Etherscan, the value of the BUIDL fund is approximately $550 million, making it one of the largest in its category.