Arbitrum DAO approves 35 million ARB for investing in tokenized U.S. Treasury bonds

ChainCatcher news, according to The Block, Arbitrum DAO has approved the next phase of its Stable Treasury Donation Program (STEP) through on-chain voting, allocating 35 million ARB (approximately 11.6 million USD) to tokenized U.S. Treasury bonds. The funds will be invested in Franklin Templeton's FOBXX (tokenized as BENJI, accounting for 35%), Spiko's USTBL (accounting for 35%), and WisdomTree's WTGXX (accounting for 30%).

It is reported that the STEP project will launch in July 2024, aiming to create a composable and sustainable yield-generating treasury for Arbitrum by investing in tokenized real-world assets (RWA).