Wyoming Launches First US State-Issued Stablecoin, FRNT

In a groundbreaking move, Wyoming has become the first U.S. state to issue its own blockchain-based stablecoin, known as the Frontier Stable Token (FRNT). The launch, announced by the Wyoming Stable Token Commission at a press briefing on Tuesday, marks the culmination of years of effort in establishing regulatory frameworks for digital assets within the state. FRNT, with reserves backed by US dollars and short-term treasuries, is now available on various blockchain networks including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base.