Wyoming Launches First State-Issued Stablecoin on Hedera

Wyoming has made history by launching the first state-issued stablecoin, called Frontier Token (FRNT), on the Hedera network. This innovative move comes under the 2023 Wyoming Stable Token Act and is backed by US dollars and short-term Treasury securities, guaranteeing stability. The launch has already seen a positive market response, with Hedera’s native token HBAR experiencing a 1.1% price increase.