After months of anticipation, Wyoming has officially launched the Frontier Stable Token (FRNT), marking the first time a U.S. public entity has issued a state-backed stablecoin. The Wyoming Stable Token Commission announced the mainnet debut in a press release, positioning the state as a trailblazer in digital asset regulation.
The FRNT stablecoin is fully backed by U.S. dollars and short-duration treasuries, in accordance with the GENIUS Act. Additionally, the Wyoming legislature has mandated a 2% overcollateralization requirement, reinforcing the token’s financial stability. The commission partnered with LayerZero to deploy FRNT across seven blockchain networks, selected through a rigorous evaluation process. These include Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.
Although the token has launched on multiple chains, it is not yet available for public trading. Journalist Eleanor Terrett noted on X that regulatory challenges are delaying its accessibility. Despite this, the commission has outlined how investors will soon be able to acquire the token. On Solana, FRNT will be purchasable via Kraken, Wyoming’s domiciled crypto exchange. On Avalanche, users can access the token through Rain’s Visa-integrated card platform.
Governor Mark Gordon, who chairs the Wyoming Stable Token Commission, emphasized the state’s leadership in blockchain and digital asset legislation. Since 2016, Wyoming has passed over 45 laws in this domain, fostering a regulatory environment conducive to innovation. Kraken recently relocated its headquarters to Wyoming, and Uniswap is planning to establish a legal entity in the state, further cementing its role as a crypto-friendly jurisdiction.
Gordon stated that the launch of FRNT reflects Wyoming’s commitment to financial innovation and consumer protection. He believes the stablecoin will provide citizens and businesses with a secure and efficient way to transact in the digital economy. While the token’s tradeability remains on hold, its multi-chain deployment and regulatory backing signal a significant step forward in the integration of public finance and blockchain technology.
Frequently Asked Questions (FAQs)
- What is Wyoming’s state-issued stablecoin?
A digital currency backed 1:1 by the U.S. dollar, issued and regulated by the state of Wyoming.
- Why is Wyoming using Solana and Ethereum networks?
To leverage fast, secure, and decentralized infrastructure for stablecoin transactions.
- Is the Wyoming stablecoin safe and regulated?
Yes, it’s backed by dollar reserves and governed under state regulatory frameworks.
