๐จ Wyoming Becomes First U.S. State to Launch Its Own Stablecoin
๐ข In a landmark move, the Wyoming Stable Token Commission has launched the Frontier Stable Token (FRNT) โ making Wyoming the first public entity in the U.S. to issue a state-backed stablecoin.
๐ Key details:
๐ต Fully backed by U.S. dollars & short-term treasuries.
๐ Mandated 2% overcollateralization under the GENIUS Act.
๐ Deployed on 7 blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.
๐ข Issued in partnership with LayerZero.
โ ๏ธ Important: FRNT isnโt yet publicly tradeable, due to ongoing regulatory clearance.
๐ This marks a bold experiment in state-level digital finance, blending government oversight with blockchain interoperability.
๐Could Wyomingโs FRNT stablecoin pave the way for U.S. state-backed digital assets across the country โ or is this an isolated experiment?
#Stablecoin #Wyoming #Blockchain #Crypto #DigitalAssets
https://coingape.com/wyoming-rolls-out-first-state-issued-stablecoin-debuts-on-solana-and-ethereum/?utm_source=linkedin&utm_medium=coingape
