Wyoming Introduces U.S.'s First Stablecoin, Now Operational Across Seven Blockchains
Wyoming Launches First U.S. State-Backed Stablecoin: Frontier Stable Token (FRNT)
The Wyoming State has taken a significant step forward in digital finance and blockchain innovation by launching the Frontier Stable Token (FRNT), the first U.S. state-issued stablecoin. This groundbreaking move was announced by the Wyoming Stable Token Commission on Tuesday.
The Frontier Stable Token (FRNT) is a blockchain-based, fully collateralized stablecoin backed by U.S. dollars and short-duration U.S. Treasury bills. To ensure stability, it has a legislatively mandated 102% reserve requirement. The token aims to provide secure, transparent, and efficient digital transactions for individuals, businesses, and institutions worldwide.
FRNT initially launched on seven blockchains: Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base. It incorporates blockchain interoperability through the LayerZero protocol, enabling cross-chain transfers. Public availability is planned to begin with purchases on the Solana blockchain via Wyoming-domiciled crypto exchange Kraken, and integration with Visa is expected on platforms such as Rain’s card on Avalanche.
Franklin Advisers, a subsidiary of asset management giant Franklin Templeton, offers reserve management services for the Frontier Stable Token (FRNT). Fireblocks provides the blockchain infrastructure for custodial management of the Frontier Stable Token (FRNT).
Wyoming has been leading in blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016. This initiative, led by Governor Mark Gordon, reaffirms the state's commitment to financial innovation and consumer protection.
The announcement of the Frontier Stable Token (FRNT) mainnet launch coincides with President Trump signing the GENIUS Act into law. This act provides guidelines for regulating Fiat-pegged tokens and a framework for banks to integrate digital assets into their systems.
This move positions Wyoming at the forefront of digital finance and blockchain innovation, reinforcing its leadership in crypto regulation. The issuance of FRNT by Wyoming makes it the first public entity in the U.S. to issue a blockchain-based stablecoin.
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