🇺🇸 The state of Wyoming has launched its stablecoin — the first state-issued stablecoin in the USA.

🕷 The Frontier Stable Token $FRNT has been launched on 7 networks: Ethereum, Solana, Avalanche, and others. The coin is fully backed by the dollar + treasury securities provide an additional 2% overcollateralization.

👀 A special commission, the Wyoming Stable Token Commission, has been created, which is included in the structure of the state government and is empowered to issue and redeem the FRNT stablecoin.

💩 A listing has already been announced on Kraken and on the crypto cards Rain.

Revenue from the treasuries will go to the state budget, not to the token holders. Against the backdrop of $USDT / $USDC , where profits go to shareholders, this may be very appealing to politicians from other states. 😱