Wyoming Stablecoin Committee Announces Launch of Frontier Stable Token (FRNT) Mainnet
On Tuesday, the Wyoming Stablecoin Committee announced the launch of the government-backed stablecoin, the Frontier Stable Token (FRNT) mainnet, with plans to open token purchases in September. FRNT is the first stablecoin in the United States issued by a public institution, backed by fiat currency, and with full reserves, aimed at “providing secure, transparent, and efficient digital transactions for individuals, businesses, and institutions worldwide.”
FRNT is fully backed by cash and short-term U.S. Treasury bills, managed in trust by Franklin Advisers, and must legally maintain at least 102% in excess collateral to ensure its stability. The Wyoming Stablecoin Committee stated:
The stablecoin will initially be issued on seven blockchains, including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana, and will achieve interoperability through the communication protocols of LayerZero and Fireblocks.
In the coming days, FRNT will be available for purchase on the Solana chain via the cryptocurrency exchange Kraken, and on the Avalanche chain through Rain’s Visa-integrated payment card platform. The Wyoming Stablecoin Committee has previously engaged Inca Digital to provide monitoring and analytical services for the stablecoin.
The launch of FRNT comes one month after U.S. President Trump signed the first federal stablecoin legislation, the GENIUS Act, which not only established a legal framework for stablecoin issuers to operate within the United States but also sparked a rush of financial institutions and crypto companies entering the field. According to data from DefiLlama, the total market capitalization of stablecoins worldwide has reached $276 billion.
Wyoming has long been at the forefront of cryptocurrency regulation compared to other regions in the United States, including the recognition of the legal status of DAOs (Decentralized Autonomous Organizations), the establishment of a “crypto bank” framework under the SPDI (Special Purpose Depository Institution) charter, and the passage of state-level stablecoin legislation, all aimed at attracting more economic activity to the state.
