Wyoming Introduces State-Backed Stablecoin FRNT

After extensive research, the Wyoming Stable Token Commission has officially launched the Frontier Stable Token (FRNT), the first U.S. state-backed stablecoin operating on seven blockchains. This launch signifies a key milestone in blockchain innovation and digital finance. According to the commission, "FRNT is designed to provide secure, transparent, and efficient digital transactions for individuals, businesses, and institutions worldwide." With this initiative, Wyoming positions itself as a leader in digital finance, having previously established a legal framework for decentralized autonomous organizations (DAOs) and special purpose depository institutions. This launch follows the recent signing of a federal stablecoin bill by President Donald Trump, aimed at facilitating a legal environment for crypto issuers and attracting interest from financial institutions. Currently, the total supply of USD-pegged stablecoins is approximately $265 billion. The Wyoming Stable Token Commission has been studying the stablecoin since the passage of the Wyoming Stable Token Act, which tasked them with conducting research and developing the framework. FRNT is overcollateralized by cash and short-term U.S. Treasuries, maintaining a minimum reserve of 102% for stability. Initially, it will be available for trading on Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana via the LayerZero and Fireblocks protocols. In the coming days, FRNT will be purchasable on the Kraken exchange for Solana and on Rain’s Visa-integrated platform for Avalanche. The commission has collaborated with Inca Digital for surveillance and analytics services. It initiated a testing phase in July across 11 blockchains, considering variants like the Wyoming Electronic Stable Token (WEST) and Wyoming Stable Token (WYST).