Franklin Templeton Enters Arbitrum: New Fund Launches on Ethereum Layer 2

Franklin Templeton Enters Arbitrum- What This Means for Ethereum Layer 2

Franklin Templeton Enters Arbitrum- This week, Franklin Templeton, a leading global asset manager, has expanded its reach into the blockchain space with the launch of the Franklin OnChain U.S. Government Money Fund (FOBXX) on Arbitrum, an Ethereum Layer 2 blockchain. This move marks a significant milestone in integrating decentralized finance (DeFi) with traditional financial services.

Investors can now access FOBXX through digital wallets on the Benji Investments platform, Franklin Templeton’s proprietary blockchain-integrated system. This platform allows for seamless interaction with the Arbitrum network, provided the investor meets certain eligibility criteria. By incorporating Arbitrum into its offerings, Franklin Templeton aims to broaden the scope of FOBXX within the digital assets ecosystem and tap into new audiences.

Franklin Templeton Launches FOBXX on Arbitrum: A Major Step for Blockchain Integration

Since 2018, Franklin Templeton Digital Assets has been at the forefront of blockchain innovation, developing blockchain-based technology solutions, operating node validators, and crafting diverse investment strategies. The firm’s digital assets research team employs in-depth tokenomic analysis, data science insights, and industry expertise to drive product development and investment strategies.

Roger Bayston, head of digital assets at Franklin Templeton, emphasized the significance of this expansion: Venturing into the Arbitrum ecosystem is a key milestone in enhancing our asset management capabilities with blockchain technology. We are excited about the new opportunities this partnership will bring to our firm and clients.

FOBXX, launched in 2021, utilizes a U.S.-registered fund to manage transactions and record share ownership on a public blockchain. Individual investors can access the fund via the Benji Investments mobile app available on Apple and Android devices, while institutional investors can utilize the Benji Institutional web portal.