The post Franklin Templeton Launches Blockchain Fund on Arbitrum appeared on BitcoinEthereumNews.com.

Franklin Templeton’s latest partnership with the Arbitrum Foundation is set to utilize Arbitrum’s advanced scalability and efficiency. Arbitrum, a leading Ethereum Layer 2 solution, has $2.6 billion in deposits and commands a 34% market share, distinguished by its high number of daily active addresses. This collaboration emphasizes Franklin Templeton’s goal to harness blockchain technology to enhance asset management and offer clients new and innovative investment options. Franklin Templeton has brought its blockchain-based OnChain U.S. Government Money Fund (FOBXX) into the Arbitrum ecosystem, signaling a rising interest in tokenized real-world asset (RWA) investments. As a leading Ethereum scaling solution, Arbitrum now hosts FOBXX, making it more accessible to digital wallets on the platform, according to the company’s announcement. The fund, represented by the BENJI token, provides investors with access to U.S. government securities through a blockchain-powered platform. The Benji Investments platform supports transactions in digital wallets, merging conventional and digital investment strategies. Roger Bayston, Franklin Templeton’s Head of Digital Assets, emphasized the significance of this integration. Integrating FOBXX into Arbitrum is a key component of Franklin Templeton’s strategy to broaden the fund’s accessibility for retail investors, focusing on utilizing secure and dynamic blockchain networks. Roger Bayston, the firm’s head of digital assets, highlighted that Arbitrum’s cost-effectiveness, robustness, and scalability were crucial in the decision to integrate FOBXX’s wallet infrastructure across multiple blockchain platforms. The goal is to meet consumer and client needs by offering innovative solutions. How has the ARB Price Moved Recently? As of today, Arbitrum (ARB) is priced at $0.544991, with a 24-hour trading volume of $440.65 million, a market cap of $1.45 billion, and a market dominance of 0.07%. The ARB price has risen by 7.22% over the past 24 hours. Arbitrum reached its all-time high of $8.67 on March 23, 2023, while its lowest price of $0.432172…

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Filed under: News - @ August 9, 2024 1:18 pm