#Wyoming launches $FRNT: America’s first state-issued stablecoin!

Announced today by @WyoStable & @GovernorGordon, $FRNT marks the first time a U.S. public entity has issued a blockchain-based stable token.

FRNT, formerly known as WYST, is:

• Fully backed by short-term U.S. Treasuries and dollars

• Held to a 102% reserve requirement under Wyoming law

• Issued in partnership with @LayerZero_Core and live across 7 blockchains including @Arbitrum, @Avax, @Base, @Ethereum, @Optimism, @Polygon & @Solana.

Soon, users will be able to spend FRNT anywhere Visa is accepted through @Raincards on #Avalanche and purchase directly via @Krakenfx on #Solana.

FRNT has already been piloted by Wyoming for real-time contractor payments, cutting processing times from 45 days to seconds, a glimpse of how governments can revolutionize payroll, refunds and emergency relief.