After years of preparation, Wyoming officially launched the first US dollar stablecoin backed by a state government — the 'Frontier Stable Token (FRNT)', and is the first to go live on seven major blockchains including Ethereum and Solana.
According to an announcement released on Tuesday, FRNT is the first token in the US to be issued by a state government, based on blockchain and pegged to fiat currency, specifically designed for retail and corporate use.
The Wyoming Stable Token Commission stated in a press release:
The original intention of FRNT's design is to provide secure, transparent, and efficient digital transactions for individuals, businesses, and institutions worldwide. This groundbreaking initiative reinforces Wyoming's leading position in digital finance and blockchain innovation.
Known as the 'Cowboy State,' Wyoming is also at the forefront of cryptocurrency regulation, having recognized decentralized autonomous organizations (DAOs) as legal entities years ago; created a framework for 'crypto banks' based on special purpose deposit institution statutes; and established the state's stable token act to pave the way for state-level stablecoins. These initiatives aim to attract blockchain and financial startups to boost the local economy.
The birth of FRNT coincides with policy changes at the federal level. Just a month ago, US President Trump signed the GENIUS Act, establishing a compliance framework for stablecoin issuers, further opening the door for cooperation between financial institutions and the cryptocurrency industry.
According to statistics, the total supply of global US dollar stablecoins is approximately $265 billion.
According to the plan, FRNT adopts an over-collateralization mechanism, secured by cash and short-term US government bonds, with a minimum reserve ratio maintained at 102%, and managed by Franklin Advisers to ensure stability and trust.
In its initial issuance, FRNT will circulate across seven major blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana, achieving interoperability through cross-chain protocols like LayerZero and Fireblocks.
In the coming days, FRNT will be launched on the Solana chain through Kraken, and on the Avalanche chain through the Visa card integration platform Rain.
As early as 2023, the Wyoming Stable Token Committee began research on the creation of stable tokens based on the authorization of the Wyoming Stable Token Act. In July of this year, before its official launch, FRNT had already conducted tests on 11 blockchains, including emerging public chains like Aptos and Sei as candidate options.
"The first state in the US! Wyoming launches the stablecoin 'FRNT', simultaneously landing on seven major blockchains." This article was first published on Blockcast.