On August 19th, Wyoming took a groundbreaking step by launching the Frontier Stable Token (FRNT), the first fully reserved stablecoin to be issued by any US state. This innovative initiative was unveiled at the Wyoming Blockchain Symposium in Jackson Hole and represents an advancement towards modernizing the state’s financial infrastructure. Governor Mark Gordon expressed excitement about FRNT’s potential for empowering citizens and businesses with a secure, efficient, and transparent means of transacting in the digital age. 100% collateralized against U.S. dollars and short-duration Treasury bills, FRNT adheres to a statutorily mandated reserve ratio of 102%. It’s described as a constitutionally protected public asset, ensuring transparency and reliability compared to privately issued stablecoins.