Wyoming Launches First State-Issued Stablecoin on Seven Blockchains
Wyoming has officially rolled out the Frontier Stable Token (FRNT), becoming the first U.S. state to issue its own stablecoin. The token has gone live on seven major blockchains—Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Base—but is not yet available for public trading due to ongoing regulatory hurdles.
Key Points:
- Wyoming becomes the first U.S. public entity to launch a stablecoin.
- The FRNT stablecoin is backed by U.S. dollars and short-term treasuries, with a mandate for 2% overcollateralization under the GENIUS Act.
- Token issuance was facilitated in partnership with LayerZero.
- Despite the mainnet launch, the stablecoin is not yet tradeable pending regulatory clearance.
Mainnet Launch and Technical Details
The Wyoming Stable Token Commission announced that FRNT has been deployed after a “robust candidacy process.” Although Aptos and Solana were initially frontrunners, the state ultimately chose seven blockchains to maximize adoption and interoperability.
Access for Investors
According to the commission, FRNT will soon be purchasable through Kraken’s Wyoming-based exchange on Solana and via Rain’s Visa-linked card platform on Avalanche. Broader access is expected once regulatory approvals are complete.
Backing and Oversight
The stablecoin will be fully collateralized by cash and U.S. Treasuries, ensuring stability and compliance. State law requires FRNT to maintain a 2% overcollateralization buffer for added security.
Governor’s Statement
Governor Mark Gordon, who also chairs the Commission, emphasized Wyoming’s leadership in blockchain and digital asset regulation, noting that the state has passed over 45 crypto-related laws since 2016. He described the launch as a commitment to financial innovation and consumer protection, stating FRNT will provide citizens and businesses with a “secure, efficient, and modern way to transact in the digital economy.”
Wyoming is also home to Kraken’s new headquarters and is set to host Uniswap’s planned DUNI Legal Entity, further positioning the state as a hub for blockchain innovation.
