Coinpaper 2025-08-19 21:00:59

Wyoming Breaks Ground With First U.S. Government-Issued Stablecoin

Quick Highlights FRNT is backed by USD and Treasury bonds, with 2% overcollateralization The token is live on Ethereum, Solana, Avalanche, and four more chains Available soon on Kraken and Rain, with legal clarity from the GENIUS Act Wyoming Launches Frontier Stable Token (FRNT) The Wyoming Stablecoin Commission has officially launched the Frontier Stable Token (FRNT) — the first U.S. state-issued stablecoin backed by fiat and deployed on blockchain. According to a press release , this marks the first time a U.S. government agency has issued its own stablecoin directly on-chain. Governor Mark Gordon commented: “The Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.” FRNT is backed by U.S. dollars and short-term Treasury bonds. These reserves are held in trust for the benefit of token holders, and the token is 2% overcollateralized to enhance financial stability and trust. FRNT Goes Multichain With Major Tech Backing The Commission simultaneously launched the token on seven blockchains: Ethereum; Arbitrum; Optimism; Polygon; Base; Avalanche; Solana. The technical infrastructure was developed in partnership with LayerZero, Fireblocks, Franklin Advisers, Inca Digital, and The Network Firm. In the coming days, FRNT will be purchasable via the Kraken exchange on Solana, and on Avalanche through the Visa-integrated Rain platform. This state-backed digital asset arrives at a pivotal moment: in July 2025, the U.S. House of Representatives passed three major cryptocurrency bills, including the GENIUS Act, which creates a clear federal regulatory framework for stablecoins.