US EditionStablecoin News: Wyoming State Launches Frontier Stable Token (FRNT)
Wyoming's Frontier Stable Token is backed by 102% reserves of U.S. dollars and Treasury bills and will support payments on seven blockchain networks, aiming to fund public services.
- On Tuesday, the Wyoming Stable Token Commission announced the mainnet launch of the Frontier Stable Token at the Wyoming Blockchain Symposium, deploying it across seven blockchains with public access starting Tuesday.
- The Wyoming Stable Token Commission, created in 2023, developed a U.S. dollar-backed token after planning last year, claiming it operates outside the federal GENIUS Act as issued by Wyoming.
- FRNT's structure centers on U.S. dollars and short-duration U.S. Treasuries held in trust with a statutorily mandated 102% reserve requirement, with issuance partners LayerZero, Fireblocks, Franklin Advisers, and The Network Firm.
- Last month, Wyoming ran a live pilot payment on Avalanche-based Hashfire that cut typical processing from 45 days to seconds, and state officials say reserve interest will support the Wyoming School Foundation Fund.
- FRNT's debut positions Wyoming within a roughly $260 billion stablecoin industry and could prompt other states including Nebraska and Texas to issue similar tokens, despite some U.S. conservatives likening it to a CBDC, which Anthony Apollo disputes.
48 Articles
48 Articles
Wyoming Launches FRNT Stablecoin on Several Blockchains
Wyoming has launched the Frontier Stable Token (FRNT), a landmark Visa-supported stablecoin issued directly by a U.S. state agency, the Wyoming Stable Token Commission, fully backed by U.S. dollars and short-term Treasury bills. FRNT debuted on Tuesday with multichain compatibility, launching simultaneously across seven major blockchain networks: Ethereum, Solana, Avalanche, Polygon, Arbitrum, Optimism, and Base. The stablecoin’s interoperabilit…
Wyoming Is First State To Launch Its Own Digital Currency — Frontier Stable Token
Wyoming became the first state in the nation Tuesday to launch its own digital currency. It’s a huge deal, an expert says about the Frontier Stable Token, which is backed by the U.S. dollar and short-term U.S. Treasury bills.
Wyoming launches the first state-issued stablecoin: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin and altcoins slump as tech stocks pull back. Plus, Wyoming launches the Frontier Stable Token, the first state-backed stablecoin. And, Rep. Brian Steil (R-Wisconsin) discusses the next crypto legislative priorities for Congress.
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