Wyoming has just made history by launching the first state-issued stablecoin in the United States 🚀. The *Frontier Stable Token (FRNT)* was announced today by the Wyoming Stable Token Commission, chaired by Governor Mark Gordon.

Key Details about FRNT

- *Backing*: FRNT is fully backed by U.S. dollars and short-duration U.S. Treasuries, held in trust for token holders.

- *Stability*: Wyoming law mandates a *2% overcollateralization* for added stability.

- *Multi-Chain Launch*: FRNT is live on seven major blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.

- *Usage*: FRNT can be used anywhere Visa is accepted, including mobile payments like Apple Pay and Google Pay.

Purpose and Impact

- *Financial Innovation*: Governor Gordon emphasizes FRNT will empower citizens and businesses with modern, efficient, and secure transactions.

- *Revenue for Education*: Interest earned on FRNT reserves will flow to Wyoming's School Foundation Fund.

- *Potential Disruption to Banks*: Analysts warn stablecoins like FRNT could impact U.S. banks' core business models .

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