Wyoming Becomes First U.S. State to Issue Its Own Stablecoin

FRNT is fully backed by USD and short-term US Treasury bonds, and it is implemented on seven major blockchains, including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base. However, this stablecoin is currently not open to the public due to legal barriers.

Collateral Mechanism and Community Benefits

According to the Wyoming Stable Token Committee, FRNT is 100% collateralized and maintains a mandatory reserve level of up to 102%, providing superior safety compared to many commercial stablecoins. Notably, the interest earned from the reserves will be transferred to the Wyoming Education Fund on a quarterly basis, contributing to the common good of the community.

The committee, along with its partner LayerZero, asserts that FRNT is a “public asset protected by the constitution,” free from arbitrary control or restrictions like those imposed on stablecoins issued by corporations.

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Confirming a Pioneering Position

FRNT is not subject to the recently passed GENIUS Act, as it is considered a state sovereign asset rather than a business product.

Wyoming Governor Mark Gordon stated:

“For many years, Wyoming has led the way in blockchain, cryptocurrency, and digital asset management, with over 45 bills enacted since 2016. The launch of the Frontier Stable Token on the mainnet will provide residents and businesses with a modern, safe, and efficient trading tool in the digital age”.