Arbitrum DAO Announces Allocation of 35 Million $ARB to Three RWA Tokenized Government Bonds, Including Franklin Templeton
Recently, Ethereum Layer 2 Arbitrum announced that its governance organization Arbitrum DAO will allocate 35 million $ARB to tokenized U.S. Treasury bonds.
It is understood that the funds will be invested in Franklin Templeton’s $BENJI, Spiko’s $USTBL, and WisdomTree’s $WTGXX. Arbitrum described this as an important day for Real World Assets (RWA), and this proposal will accelerate institutional adoption of RWA.
Three firms stand out from over fifty teams
According to reports, Arbitrum DAO selected these three firms from competitive applications from over 50 TradFi and RWA candidates. The allocation of the 35 million $ARB will follow the proportions of:
- WisdomTree (WTGXX) 30%
- Spiko (USTBL) 35%
- Franklin Templeton (BENJI) 35%
STEP (Stable Treasury Endowment Program) is an initiative by Arbitrum DAO to diversify its funds into RWA. Since its launch over six months ago, the DAO has generated over $650,000 in revenue.
Traditional asset management giants entering the blockchain space
Franklin Templeton is a traditional financial giant in the United States, with an assets under management (AUM) of $1.53 trillion. In recent years, Franklin Templeton has actively embraced blockchain technology, launching the Benji platform, which focuses on tokenized assets and digital asset strategies, becoming one of the pioneers among traditional financial institutions in the blockchain field.
WisdomTree is a global exchange-traded fund (ETF) and exchange-traded product (ETP) asset management company, focusing on innovative investment products. The company has been actively exploring blockchain technology in recent years, launching the WisdomTree Connect platform, which combines traditional finance with decentralized finance, offering investment opportunities in Real World Assets (RWA). It is understood that the products from all three firms involve bringing U.S. Treasury bonds on-chain.
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