Good News for Arbitrum Investors: The 1.6 Trillion Giant Announced!

Franklin Templeton, which manages $1.6 trillion worth of assets, has taken action for Arbitrum (ARB).

It has partnered with Arbitrum to launch the OnChain US Government Monetary Fund (FOBXX) on the Ethereum Layer 2 network. In line with this partnership, it was noted that the fund in question will expand to the Arbitrum network.

The fund in question first started on the Stellar (XLM) network and then expanded to the Polygon (MATIC) network. The fact that Arbitrum was the third option had a positive impact on the price.

Franklin Templeton Digital Assets President Roger Bayston, who made a statement on the subject, stated that expanding to the Arbitrum ecosystem is an important step for them:

Expanding to the Arbitrum ecosystem is an important step towards strengthening our asset management capabilities with blockchain technology. We are excited about the opportunities this step will open for our company and our clients.

According to CoinGecko data, ARB, which increased by 3% due to the news flow, climbed to $0.52. ARB is trading at $0.51 at the time of writing.