Wyoming Launches FRNT: First State-Issued Stablecoin
Wyoming Introduces FRNT Stablecoin
Wyoming has officially launched the Frontier Stable Token (FRNT), marking the first state-issued stablecoin in the United States. The Wyoming Stable Token Commission, the entity authorized to issue the token, announced the mainnet launch, emphasizing its commitment to regulatory compliance and innovation.
FRNT is designed as a fully-collateralized stablecoin, backed by short-duration U.S. Treasury bills and U.S. dollars. The commission has mandated a 102% reserve requirement, ensuring asset backing beyond the token's value.
Availability and Blockchain Integration
According to Eleanor Terrett, host of CryptoAmerica, FRNT is currently live on several prominent blockchains:
- Ethereum
- Solana
- Arbitrum
- Avalanche
- Polygon
- Optimism
- Base
However, FRNT is not yet available for public purchase due to ongoing regulatory considerations. The official announcement took place at the Wyoming Blockchain Symposium.
Governor's Remarks and Future Implications
Wyoming Governor Mark Gordon highlighted the state's long-standing commitment to blockchain and digital asset regulation. "The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age," he stated.
The Wyoming Stable Token Commission collaborated with LayerZero, a blockchain interoperability protocol, to facilitate FRNT's operation across multiple networks.
Visa Acceptance and Payment Channels
Avalanche developer, Ava Labs, announced that FRNT would be accepted wherever Visa is used, including major mobile payment platforms like Apple Pay and Google Pay, and physical cards.
FRNT's Vision for Government Efficiency
Anthony Apollo, executive director of the commission, emphasized the potential for FRNT to streamline government processes. "FRNT brings state action into the programmable era, enabling everything from vendor payments to tax refunds on-chain," he said.
A spokesperson for Ava Labs clarified that FRNT is the same token previously known as Wyoming Stable Token (WYST) and Wyoming Electronic Stable Token (WEST).
For projects considering launching their own tokens, platforms like Codeum offer blockchain security audits and KYC solutions to ensure compliance and security from day one.