Launch of the state-backed stablecoin: Frontier Stable Token (FRNT)
Main facts
FRNT is the name of the new stablecoin issued by the state of Wyoming, through the Wyoming Stable Token Commission, and was officially presented on August 19, 2025, at the SALT Blockchain Symposium in Jackson Hole. It becomes the first stablecoin issued by a U.S. public entity
It has strong fiduciary backing: each FRNT is backed by U.S. dollars and short-term Treasury bonds, with a collateralization level of 102%, required by state legislation
Its design includes a cutting-edge infrastructure:
Launched on seven major blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana, with interoperability facilitated by LayerZero
It will allow payments like any traditional stablecoin, even through Visa cards, compatible with Apple Pay and Google Pay, thanks to a partnership with Rain and initial use on Avalanche
Implications and context
Innovation in public finance
FRNT represents a tangible innovation in public finance, enabling instant, transparent, and programmable state payments — from payrolls to tax refunds or emergency assistance
Unlike private stablecoins, FRNT has regulatory oversight and constant auditing, with audits and reserves in trust managed by Franklin Advisers
Regulatory leadership in blockchain
This initiative reinforces Wyoming's role as a pioneer in crypto-related legislation, supported by frameworks like the Wyoming Stable Token Act (2023)
It also sparks debate on how states could actively participate in digital money systems, previously dominated by private or national issuances. It could serve as a model for future initiatives by other public entities or even federal ones.
Public deployment and future use
FRNT is not yet available for direct public purchase; it is expected to begin distribution through authorized intermediaries starting in September, initially on Solana (via Kraken) and Avalanche (via Rain)