Wyoming State Launches New “Live But Dormant” Stablecoin

• Wyoming became the first U.S. state to issue its own fully reserved dollar stablecoin, FRNT.
• FRNT operates on seven blockchains but remains inaccessible due to regulatory hurdles.
• Reserve income from FRNT will support Wyoming’s School Foundation Fund, linking blockchain to public finance.

Wyoming launched the Frontier Stable Token (FRNT) on August 19, 2025, becoming the first U.S. state to issue its own fully reserved U.S. dollar stablecoin. The token is now live and operating across seven major blockchains, including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base. 

Despite its technical readiness and cross‑chain deployment, Wyoming has not made FRNT available to the public. 

As crypto journalist Eleanor Terrett noted, “due to lingering regulatory hurdles, the token is not yet available to the public,” leaving it live in form but dormant in function.

Multi-Chain Launch Meets Regulatory Lags

Wyoming deployed FRNT simultaneously on major blockchain networks. The state working with interoperability provider LayerZero facilitated its presence across networks to ensure broad reach from day one. 

Platforms such as Kraken on Solana and Rain via Avalanche will support public access once regulatory clarity arrives.

However, as crypto journalist Eleanor Terrett aptly noted on X :

“Wyoming has launched the Frontier Stable Token (FRNT)… now live on 7 blockchains… However, due to lingering regulatory hurdles, the token is not yet available to the public.” 

Public Asset, Private Delay

Wyoming designed FRNT as a public digital asset where the income generated from its reserves, which are 102% backed by USD cash and short-term U.S. Treasuries will be used to support education via the state’s School Foundation Fund. This structure frames FRNT as a public-benefit tool over a commercial product.

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This initiative builds on a long history of Wyoming’s proactive blockchain posture. State officials targeted a stablecoin release in July and have been testing it on Avalanche in vendor‑payment trials since mid‑2025. 

By July 17, the Wyoming Stable Token Commission declared the token “ready for primetime” as it ironed out legal and technical frameworks ahead of its August launch.

Outlook and Next Steps

Wyoming’s FRNT represents an unprecedented intersection of public policy, blockchain innovation, and financial regulation. 

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The state has chosen to deploy the infrastructure first and now awaits regulatory clearance to turn on public distribution. This “build-first” strategy could accelerate the U.S. stablecoin regulation debate, especially following the passage of the GENIUS Act earlier this summer.