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Quick take:
It makes the commission the first public entity in the United States to launch a stablecoin.
The FRNT token initially launches on seven blockchains, including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.
The token is fully-backed by the US dollar and short-term treasuries held for the benefit of FRNT holders.
Wyoming State becomes the first U.S. State to launch a stablecoin amid the rapid progress in U.S. crypto regulation. The Wyoming Stable Token Commission announced the mainnet launch of the Frontier Stable Token (FRNT) on Tuesday.
The state entity said FRNT is designed to provide secure, transparent, and efficient digital transactions for individuals, businesses, and institutions – worldwide, according to a press release seen by NFTgators.
According to the announcement, the token is fully-backed by the US dollar and short-term treasuries held for the benefit of FRNT holders.
“For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016,” said Wyoming Governor Mark Gordon. “Today, Wyoming reaffirms its commitment to financial innovation and consumer protection. The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.”
The FRNT stability is fortified with a legislatively-mandated remit to achieve 2% overcollateralization. The token is being issued in partnership with blockchain interoperability protocol LayerZero, enabling deployment across multiple blockchain networks. The FRNT token initially launches on seven blockchains, including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.
Fireblocks provided the blockchain infrastructure for custodial management, while Franklin Advisers, a subsidiary of asset management giant Franklin Templeton, is providing reserve management services.
The token will be made available for purchase via Wyoming-based crypto exchange platform Kraken, powered by Solana, as well as Rain’s Visa-integrated card platform on the Avalanche blockchain, in the coming days.
The announcement comes just weeks after President Trump signed into law the stablecoin-focused GENIUS Act, which provides guidelines for regulating Fiat-pegged tokens and a framework for banks to integrate digital assets into their systems.
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