In a milestone moment for both cryptocurrency regulation and digital public finance, the U.S. state of Wyoming has officially launched its own state-issued stablecoin: the Frontier Stable Token (FRNT). This initiative makes Wyoming the first public entity in the United States to issue a fully-reserved, dollar-backed stablecoin, setting a precedent for government-backed blockchain innovation nationwide.
What Is the Frontier Stable Token?
The Frontier Stable Token (FRNT) is a digital asset pegged 1:1 to the U.S. dollar and fully backed by cash and short-term U.S. Treasuries. To increase trust and stability, Wyoming law requires the stablecoin to be overcollateralized by 2%, meaning there are always more dollars in reserve than tokens in circulation.
FRNT is managed by the Wyoming Stable Token Commission, which has selected Franklin Advisers for reserve management, with regular audits and monthly attestations provided by The Network Firm. Technology partners such as LayerZero (for cross-chain interoperability) and Fireblocks (for secure infrastructure) also play key roles.
Accessible Across Seven Major Blockchains
A standout feature of Wyoming’s stablecoin is interoperability. FRNT has launched simultaneously on seven leading blockchain platforms: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana. This maximizes its reach among crypto users and developers while allowing for real-time, low-cost digital payments in both consumer and business settings.
Distribution partners include major exchanges such as Kraken and Rain’s Visa-integrated crypto card (on Avalanche) which will soon offer FRNT to the public, giving Wyoming residents and businesses immediate access to digital dollars for transacting and saving.
Why Did Wyoming Launch a State Stablecoin?
Wyoming is recognized as one of the most proactive U.S. states for blockchain and digital asset regulation, having passed over 45 related laws since 2016. The state set up the Stable Token Commission in 2023 to oversee development, issuance, and integration of a public stablecoin. The project aims to:
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Modernize payments for citizens and businesses.
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Facilitate instant settlements and cross-border transactions.
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Lower payment costs for consumers and institutions.
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Spur blockchain innovation and attract digital asset businesses to the state.
Governor Mark Gordon described the move as “empowering our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.”
What’s Next for FRNT and U.S. Digital Asset Policy?
FRNT’s launch follows the passage of the GENIUS Act, new federal legislation providing nationwide standards for stablecoins. Wyoming’s quick implementation positions it as a pilot for state-backed digital dollars. The success of FRNT could influence how other states and possibly the U.S. government consider blockchain in public finance.
Wyoming also plans to integrate the token into government contractor payments and real-time settlement for public services, with ongoing development to expand merchant and consumer use cases
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About the Author: Tyler Chen
