Wyoming Launches First State-Issued Stablecoin, Frontier Stable Token, on Solana

Overview

• The Frontier Stable Token ($FRNT) is now available to the public, with trading access provided through Kraken.
• Reserves consist solely of U.S. dollars and short-term Treasuries held in trust, managed by Franklin Templeton with Fiduciary Trust Company International as custodian.
• $FRNT was developed under the Wyoming Stable Token Act and approved by the Wyoming Stable Token Commission as a regulated alternative to corporate stablecoins.
• A spokesperson said the token does not offer yield at launch, with the possibility under evaluation for the future.
• The launch uses Solana for issuance, LayerZero for cross-chain functionality, Fireblocks for security, and additional access is reported via Rain on Avalanche.