Wyoming has officially made history by rolling out the nation’s first state-backed stablecoin.
The Frontier Stable Token (FRNT) is now live across seven blockchains, including Solana, Ethereum, and Avalanche, marking a milestone in the race to merge public finance with blockchain innovation.
Unlike private-sector stablecoins, FRNT is issued directly by the Wyoming Stable Token Commission and backed by U.S. dollars and short-term Treasuries. State law also requires a 2% overcollateralization buffer, ensuring the coin is more than fully backed. This framework aligns with the recently passed GENIUS Act, which set federal guardrails for stablecoin regulation.
The token’s debut follows months of technical preparation with LayerZero, which oversaw multi-chain issuance.
At launch, FRNT spans Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana, with potential for expansion later. Still, investors eager to trade will have to wait—regulatory clearance is pending, meaning the token isn’t yet available for open-market use.
Access will initially come through Kraken’s Wyoming-based exchange and Rain’s Visa-integrated platform, allowing users to buy FRNT directly on-chain once restrictions are lifted.
Wyoming Governor Mark Gordon, who chairs the Commission, called the launch a landmark in the state’s digital finance journey.
He highlighted Wyoming’s leadership in crypto law, with over 45 blockchain bills passed since 2016. “This stablecoin represents a secure and modern tool for both citizens and businesses,” Gordon said, pointing to the state’s role in attracting crypto giants like Kraken and Uniswap.
While FRNT isn’t yet tradeable, its release signals a new chapter in U.S. digital finance—one where states themselves are beginning to compete with private firms in shaping the stablecoin market.
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Source: https://coindoo.com/first-state-backed-stablecoin-just-went-live-heres-what-you-need-to-know/