Wyoming has launched the Frontier Stable Token (FRNT), marking the first time a US public entity has issued a dollar-backed stablecoin on mainnet.

The state’s move brings a government-run, fully reserved asset into a $285 billion market long dominated by private issuers.

At launch, FRNT went live on Ethereum, Solana, and Avalanche, alongside Polygon, Arbitrum, Optimism, and Base.

As a result, the token is immediately available across key execution environments where liquidity and developer activity are strongest.

Moreover, the Wyoming Stable Token Commission says the smart contracts are public for transparency and auditability.

Additionally, the project uses LayerZero’s Omnichain Fungible Token standard to move value natively across chains.

In practice, the OFT framework supports deployment at scale and avoids the fragmentation that comes with wrapped assets.

Notably, Wyoming and LayerZero say the token could extend to more than 110 supported networks, while the OFT architecture itself enables interoperability across 130-plus blockchains.

Technically, FRNT is a live, multi-chain asset designed for near-instant settlement and low fees.

As a result, the token targets use cases where wire and ACH rails remain slow or expensive.

Moreover, the launch follows a multi-chain testing phase earlier this year, which the Commission says informed its “technology-neutral” approach.

Crucially, Frontier Stable Token (FRNT) is fully backed by cash and short-duration US Treasuries, with reserves governed by statute.

Therefore, the design aims to reduce risk and maintain the peg’s stability under stress.

In addition, Wyoming describes the token as legally over-collateralised and subject to mandated transparency.

Furthermore, the state will divert interest income from the reserves to the Wyoming School Foundation Fund every quarter to support public education rather than private shareholders.

Wyoming officials frame Frontier Stable Token (FRNT) as a “constitutionally protected public asset” that resists arbitrary usage restrictions.

Accordingly, the Commission argues the state cannot and should not restrict lawful transactions that would conflict with constitutional rights.

However, some federal lawmakers have criticised the initiative and compared it to a state-level central bank digital currency.

In response, the Commission emphasises that a state does not create money like a central bank and that FRNT remains a fully reserved tokenised claim.

Additionally, advisors tied to the rollout say the new federal stablecoin framework — often referred to as the GENIUS Act — does not govern Frontier Stable Token (FRNT) because the issuer is a state sovereignty rather than a private company.

Wyoming contends it operates under its own authorising law, the Wyoming Stable Token Act, which created the Commission in 2023.

The post Wyoming state launches its US dollar stablecoin Frontier Stable Token (FRNT) appeared first on Invezz

230 +