Wyoming has launched FRNT, the Frontier Stable Token, marking the first blockchain-based asset issued and backed by a U.S. state.
Wyoming Stable Token Act Delivers First Live State-Issued Stable Token
According to the release shared with Bitcoin.com News, the token was established under the Wyoming Stable Token Act and is overseen by the Wyoming Stable Token Commission, which was created in March 2023 to issue fully backed digital assets aligned with state law and fiscal responsibility.
FRNT represents a state-managed alternative to privately issued stablecoins, with reserves held in trust by the State of Wyoming and invested exclusively in U.S. dollars and short-duration U.S. Treasuries. The reserves are managed by Franklin Templeton, with custody services provided by its affiliate, Fiduciary Trust Company International.
The stable token is natively issued on the Solana network and will initially be available across six additional blockchains. The chains mentioned include Avalanche, Polygon, Arbitrum, Ethereum, Base, and Optimism. Basically a variety of layer one (L1) and layer two ( L2) blockchains.
Cross-chain functionality is enabled through Layerzero, while secure infrastructure services are provided by Fireblocks. FRNT is currently available for purchase through Kraken on Solana and via Rain, a Visa-powered card platform, on Avalanche.
Also read:Solana Leads Rise of Tokenized Stocks as Total AUM Cracks $1 Billion Mark
Wyoming Governor Mark Gordon said the launch reflects the state’s long-standing focus on financial innovation and regulatory clarity, while Franklin Templeton CEO Jenny Johnson described the initiative as a public-private collaboration aimed at modernizing financial infrastructure.
“Our collaboration with the State of Wyoming demonstrates what’s possible when the public and private sectors work together to create a compliant, trusted framework for digital assets,” Johnson stated.
The finance giant’s CEO added:
“Franklin Templeton’s deep expertise across fixed income, custody, and digital assets uniquely positions our firm to help governments and institutions modernize financial infrastructure.”
State officials said the FRNT program is designed to expand access to digital financial tools while maintaining public accountability and transparent oversight through state-managed reserves and regulatory frameworks.
FAQ ❓
- What is FRNT? FRNT is the Frontier Stable Token, a blockchain-based stable token issued and backed by the State of Wyoming.
- How is FRNT backed? All FRNT reserves are held in trust by Wyoming and invested in U.S. dollars and short-term U.S. Treasuries.
- Which blockchains support FRNT? FRNT is issued on Solana and initially supported across Avalanche, Ethereum, Arbitrum, Base, Optimism, and Polygon.
- Where can FRNT be purchased?
- FRNT is available via Kraken on Solana and through Rain on the Avalanche network.