Arbitrum DAO approved an investment of 35 million ARB in the tokenization of U.S. Treasury bonds, approximately 11.6 million dollars.

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On May 8, 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 (about $11.6 million) to tokenized U.S. Treasury bonds. Funds will be invested in Franklin Templeton's FOBXX (tokenized as BENJI, 35%), Spiko's USTBL (35%), and WisdomTree's WTGXX (30%).

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

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