The firm has launched its on-chain treasuries fund, the Franklin OnChain U.S. Government Money Fund (FOBXX), on Arbitrum.
Arbitrum, the largest Ethereum Layer 2 network, now hosts this fund. This will integrate blockchain technology into traditional finance. Let’s discover more about this On-Chain Treasuries Fund.
Franklin Templeton Expands Blockchain Offerings on Arbitrum
The launch, announced on August 8th, allows investors to access the FOBXX fund via Franklin Templeton’s blockchain-integrated recordkeeping system, Benji. Through this system, investors can now issue FOBXX tokens on Arbitrum, marking a significant step forward in the fusion of blockchain technology with conventional financial products.
Retail investors can access the FOBXX fund through the Benji Investments mobile app, while institutional investors have the option to use the Benji Institutional web portal for their transactions.
Source: X
Franklin Templeton has been steadily advancing its involvement in the blockchain sector since the creation of its Digital Assets division in 2018. This latest launch on Arbitrum highlights the company’s continued focus on integrating blockchain technology into its offerings.
FOBXX, which is a U.S.-registered fund, initially debuted on the Stellar Layer 1 network in April 2021, making it the first U.S.-registered fund to be issued via a public blockchain. This milestone was followed by the fund’s launch on Polygon, another leading blockchain platform, in April 2023. By extending FOBXX to Arbitrum, Franklin Templeton is further diversifying its blockchain portfolio and providing investors with more options to engage with on-chain financial products.
Source: X
The introduction of FOBXX on Arbitrum reflects Franklin Templeton’s strategic approach to blockchain adoption. It aims to offer more efficient, transparent, and accessible financial products. As the firm continues to pioneer in the digital assets space, its efforts to integrate blockchain technology are likely to set new standards for the industry.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
