Wyoming has made history by launching the Frontier Stable Token (FRNT), marking the first blockchain-based stablecoin issued by a U.S. public entity. The Wyoming Stable Token Commission, chaired by Governor Mark Gordon, officially debuted the digital currency on Tuesday following extensive compliance testing and regulatory preparation. This groundbreaking initiative represents a significant milestone in government adoption of cryptocurrency technology, as Wyoming positions itself at the forefront of digital finance innovation within the United States.
The FRNT token operates as a fully-backed digital currency supported by U.S. dollars and short-duration treasury securities, ensuring stability and transparency for users conducting digital transactions. State Senator Chris Rothfuss, co-chair of the Legislature’s Select Committee on Blockchain, Financial Technology and Digital Innovation Technology, emphasizes the distinction between calling it a “token” rather than a “coin” to reflect its backing by traditional monetary reserves. Wyoming has implemented legislative mandates requiring the state to maintain sufficient reserves to guarantee full redemption capabilities, even in scenarios where all token holders simultaneously request cash withdrawals.
The stablecoin launches across seven major blockchain networks including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana, providing users with multiple platform options for digital transactions. LayerZero serves as the primary token issuance partner, while other key collaborators include Fireblocks for blockchain infrastructure, Franklin Advisers for reserves management, Inca Digital for intelligence services, and The Network Firm for financial auditing and monthly attestations. This multi-blockchain approach ensures broad accessibility and interoperability across different cryptocurrency ecosystems.
Wyoming’s digital currency initiative builds upon the state’s comprehensive blockchain legislation framework, with Governor Gordon highlighting the passage of over 45 related bills since 2016. The launch, originally scheduled for July 4th, was delayed to prioritize thorough compliance verification and system testing according to Wyoming Stable Token Commission Executive Director Anthony Apollo. The token is expected to become available for purchase this week through digital asset exchanges on Solana and via Visa-integrated card platforms on Avalanche, marking a practical step toward mainstream adoption of government-issued digital currencies in everyday financial transactions.
