19-8-2025 – Wyoming has launched the Frontier Stable Token (FRNT), making it the first public entity in the United States to issue a state-backed stablecoin, according to an official announcement from the Wyoming Stable Token Commission released Monday morning.

The digital asset launched simultaneously across seven blockchain networks including Ethereum, Solana, Arbitrum, Avalanche, Base, Optimism, and Polygon through a partnership with LayerZero. The token is fully backed by U.S. dollars and short-duration treasuries with a legislative mandate for 2% overcollateralization to ensure stability. However, FRNT remains unavailable for public trading due to pending regulatory approvals, despite the technical infrastructure being operational.

Wyoming Governor Mark Gordon, who chairs the commission, emphasized the state’s blockchain leadership, noting the passage of over 45 pieces of digital asset legislation since 2016. The move positions Wyoming as a major hub for cryptocurrency innovation, with crypto exchange Kraken recently relocating its headquarters to the state and Uniswap exploring establishment of a legal entity there.

The stablecoin will initially become available for purchase through Kraken on the Solana network and Rain’s Visa-integrated platform on Avalanche, though specific launch dates for public access remain unannounced. The commission worked with Franklin Advisers for reserves management, Fireblocks for infrastructure, and The Network Firm for ongoing financial audits.