Wyoming Makes History with State-Backed Stablecoin on 7 Blockchains
On August 19, Wyoming introduced the Frontier Stable Token (FRNT), becoming the first U.S. state to issue its own blockchain-based stablecoin.
The Wyoming Stable Token Commission, which oversees the project, said FRNT aims to make digital transactions secure, transparent, and efficient for individuals, businesses, and institutions worldwide. Governor Mark Gordon, who leads the commission, highlighted Wyoming’s long history of supporting digital assets: the state has passed over 45 blockchain and cryptocurrency laws since 2016.
The commission, created in March 2023 under the Wyoming Stable Token Act, ensures that all issued stablecoins are fully backed by U.S. dollars and short-term Treasury securities, with a 2% safety buffer. Partners like LayerZero, Fireblocks, Franklin Advisers, Inca Digital, and The Network Firm help manage issuance, security, and audits.
FRNT will be available for purchase on multiple platforms, including Kraken on Solana and Rain’s Visa-integrated card on Avalanche.
So far, FRNT has been deployed on seven blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.
