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3d ago

Wyoming Launches First State-Issued U.S. Stablecoin Across Seven Blockchains

Public access hinges on regulators, with early distribution running through Kraken alongside Rain’s Visa-linked platform.

Wyoming launches Frontier Stable Token FRNT on Ethereum, Solana, Avalanche, and more
FRNT stablecoin
Wyoming becomes first U.S. state with a stablecoin – But you can’t buy it yet
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Overview

  • Frontier Stable Token (FRNT) is live on Ethereum, Solana, Avalanche, Polygon, Arbitrum, Optimism and Base using LayerZero’s OFT standard.
  • State law mandates 102% reserves in cash and short-duration Treasuries, with interest paid quarterly to Wyoming’s School Foundation Fund.
  • Open public trading and broader DeFi integrations remain on hold due to unresolved regulatory hurdles.
  • Initial availability is slated via Kraken on Solana and Rain’s Visa-integrated card platform on Avalanche once approvals are in place.
  • Governance and operations involve the Wyoming Stable Token Commission with partners LayerZero, Fireblocks, Franklin Advisers, Inca Digital and The Network Firm, and a Hashfire pilot showed real-time contractor payments.