ARB Surges Nearly 10% As Franklin Templeton Launches Fund on Arbitrum

Financial asset manager giant Franklin Templeton is the latest merging legacy financial mechanisms with blockchain technology. This leading global asset management firm expanded its digital asset integrations by launching its OnChain US Government Money Fund (FOBXX) on the Arbitrum network.

Following this debut, Arbitrum network native token ARB has seen a significant surge in market price, adding to the overall bullish crypto prices today.

Government Money Fund On Arbitrum

As reported in a press release, Franklin Templeton’s latest collaboration with the Arbitrum Foundation aims to harness the “enhanced scalability and efficiency” of Arbitrum, currently one of the largest Ethereum Layer 2 solutions by total value locked.

With $2.6 billion in deposits and a 34% market share, Arbitrum is a leader in the Layer 2 space, particularly for its high number of daily active addresses compared to its competitors.

This partnership, as reported, highlights Franklin Templeton’s efforts to “leverage blockchain technology to enhance asset management capabilities, offering clients innovative avenues for investment.”

Franklin Templeton’s @FTI_DA OnChain U.S. Government Money Fund is now available on Arbitrum!

We’re excited to have access to the BENJI platform and see a major financial institution, Franklin Templeton, build on Arbitrum!https://t.co/CRWCFyz3NM pic.twitter.com/yrlwflYOow

— Arbitrum (