Wyoming Launches First State-Issued Stablecoin in Historic Move

• Wyoming launched the first U.S. state-issued stablecoin called FRNT on seven blockchain networks.

• U.S. dollars and treasuries back the token, but it remains non-tradeable due to regulatory hurdles.

• Citizens will access FRNT through Kraken on Solana and Rain’s card platform on Avalanche when available.

Wyoming has made history by launching the first stablecoin issued by a U.S. public entity. The Wyoming Stable Token Commission announced the mainnet launch of the Frontier Stable Token (FRNT) through an official press release.

The groundbreaking digital currency represents a significant milestone in state-level blockchain adoption. Wyoming has become the pioneer among U.S. states in entering the stablecoin market directly.

Multi-Blockchain Launch Strategy

The FRNT stablecoin launched simultaneously across seven blockchain networks. These include Ethereum, Solana, Arbitrum, Avalanche, Base, Optimism, and Polygon.

LayerZero served as the token issuance partner for the multi-chain deployment. The commission selected these networks through what they described as a “robust candidacy process.”

Initial reports suggested Aptos and Solana were the preferred networks. However, the final selection expanded to include major Ethereum-compatible chains and Solana.

The stablecoin maintains full backing by U.S. dollars and short-duration treasuries. This structure aligns with requirements outlined in Wyoming’s GENIUS Act. State legislation mandates 2% overcollateralization for the FRNT token.

Limited Availability Despite Launch

The Wyoming stablecoin remains non-tradeable despite its mainnet launch. Regulatory hurdles continue to prevent public access to the token.

Journalist Eleanor Terrett confirmed these restrictions in social media posts. The commission has not provided a timeline for when trading will begin.

Investors will initially access the stablecoin through specific platforms. The Wyoming-domiciled crypto exchange Kraken will offer FRNT purchases on the Solana network. Rain’s Visa-integrated card platform will provide access through the Avalanche network.

Governor Mark Gordon, who chairs the Wyoming Stable Token Commission, emphasized the state’s leadership position. Wyoming has passed over 45 pieces of blockchain and cryptocurrency legislation since 2016.

The state has attracted major crypto companies to establish operations within its borders. Kraken relocated its headquarters to Wyoming earlier this year. Uniswap plans to create a legal entity in the state.

Gordon described the launch as reinforcing Wyoming’s commitment to financial innovation and consumer protection. He stated the stablecoin will provide citizens and businesses with modern transaction capabilities.

The FRNT launch positions Wyoming at the forefront of digital asset regulation. The state continues building its reputation as America’s most crypto-friendly jurisdiction.

Market observers expect other states to monitor Wyoming’s stablecoin experiment closely. The success of FRNT could influence similar initiatives across the United States.

Wyoming’s approach demonstrates how state governments can participate directly in digital asset markets while maintaining regulatory oversight. The overcollateralization requirement provides additional security for users.