WYOMING DOES IT AGAIN!
The 'Cowboy State' Launches Its Own Stablecoin, FRNT, the First Backed by a U.S. State.
#Wyoming , the "Cowboy State," has once again marked a milestone in crypto regulation. After years of research, the Wyoming Stable Token Commission has announced the launch on the mainnet of its own stablecoin, the #Frontier Stable Token #FRNT .
This is the first blockchain token linked to a fiat currency issued by a U.S. state, designed for both retail and corporate transactions.
The launch of FRNT solidifies Wyoming's position at the forefront of digital finance. The state has already been a leader in crypto regulation, recognizing DAOs as legal entities and establishing a framework for "crypto banks."
Overcollateralization and Transparency: The stablecoin is overcollateralized with a minimum of 102% in cash and short-term U.S. Treasury bonds, ensuring its stability. The commission has contracted Inca Digital for the monitoring and analysis of the token, reinforcing transparency.
Great Interoperability: FRNT will initially be launched on seven major blockchains: Arbitrum, Avalanche, Base, #Ethereum , Optimism, Polygon, and #solana , maintaining interoperability through protocols like LayerZero and Fireblocks.