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Arbitrum Welcomes Franklin Templeton’s US$420M Blockchain-Based FOBXX Fund
Source: https://www.crypto-news-flash.com/ Franklin Templeton, a global asset manager, has recently launched its blockchain-based money market fund, FOBXX, on the Ethereum Layer-2 scaling network, Arbitrum. This move comes as tokenised real-world asset (RWA) funds gain increasing attention from investors. Arbitrum, known for its efficient and scalable infrastructure, now hosts FOBXX, enabling retail investors to access the fund through their digital wallets. Franklin Templeton’s focus on expanding access to this fund underscores the growing demand for tokenised financial products within highly secure blockchain ecosystems. FOBXX is designed to invest predominantly in U.S. government securities, with a minimum of 99.5% of its assets...
Franklin Templeton Expands OnChain US Government Money Market Fund to Arbitrum
Franklin Templeton has expanded its OnChain US Government Money Market Fund (FOBXX) to Ethereum’s Arbitrum, marking its third blockchain integration. The FOBXX fund, launched in 2021, is a pioneer in using public blockchains for transactions and fractional ownership, contributing nearly US$2 billion in traded value. Franklin Templeton ranks third in the tokenised government securities market, with over US$400 million in assets under management (AUM). One of the largest asset managers in the United States, Franklin Templeton, has expanded its OnChain US Government Money Market Fund (FOBXX) to Ethereum through the network’s largest Layer-2 blockchain, Arbitrum. Related: Franklin Templeton CEO Highlights...
New bill pushes blockchain use in US Veterans Affairs
A lawmaker in the United States has introduced a new bill to promote blockchain integration in the Department of Veteran Affairs (VA). The bill by Rep. Nancy Mace (R-SC) directs the VA to study the power of blockchain technology and how it can be used to enhance efficiency and cut costs for the department. The proposed bill titled “Veterans Affairs Distributed Ledger Innovation Act of 2024” states that blockchain could “significantly improve the allocation of benefits, management of insurance programs and maintenance of records within the Department of Veterans Affairs.” Mace has been one of the leading blockchain proponents in...
