In a significant move within the decentralized finance sector, the Arbitrum DAO successfully conducted an on-chain vote, sanctioning the allocation of 35 million ARB tokens, valued at approximately $11.6 million, towards three notable tokenized US Treasury bond products. Of this allocation, 35% will be directed to Franklin Templeton’s FOBXX (token code BENJI), while another 35% will benefit Spiko’s USTBL. The final 30% is earmarked for WisdomTree’s WTGXX, a strategic diversification aimed at enhancing liquidity and stability within the crypto ecosystem. This initiative underscores the growing intersection between traditional finance and the burgeoning decentralized asset space, signaling a pivotal shift towards institutional adoption in the cryptocurrency landscape.
Source: https://en.coinotag.com/breakingnews/arbitrum-dao-approves-11-6-million-allocation-of-35-million-arb-tokens-to-institutional-tokenized-us-treasury-bonds/