Étienne Girard
The Wyoming Frontier Stable Token (FRNT) is now available to the public, marking a historic moment as the first U.S. state-issued, dollar-pegged digital asset to go live on a public blockchain. The token officially became purchasable on Wednesday.
Developed under the guidance of the Wyoming Stable Token Commission, FRNT combines state-level oversight with blockchain efficiency, positioning it as a regulated alternative to privately issued stablecoins.
Unlike widely used stablecoins such as USDT and USDC, FRNT is backed and overseen by a U.S. state government. Wyoming officials emphasized that the token provides public accountability, transparent governance, and strict alignment with existing legal frameworks.
FRNT is overcollateralized, with reserves held in a Wyoming-regulated trust and invested solely in U.S. dollars and short-term U.S. Treasury securities, reducing risk while maintaining price stability.
Wyoming’s Longstanding Push Into Digital Assets
The launch of FRNT builds on Wyoming’s reputation as a leader in crypto-friendly legislation. The state has previously:
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Recognized DAOs as legal entities
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Established a legal structure for crypto banks via the Special Purpose Depository Institution (SPDI) charter
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Passed the Stable Token Act, laying the foundation for a state-backed blockchain asset
These initiatives were designed to attract digital asset innovation and economic activity to Wyoming.
Reserve Management and Public Benefit Model
Wyoming selected Franklin Templeton to manage FRNT’s reserves, with its affiliate Fiduciary Trust Company International serving as custodian. According to state officials, interest generated from the reserves will help fund Wyoming’s public education system, framing FRNT as both a financial tool and a public good.
“This collaboration shows what’s possible when public institutions and private firms work together to build trusted digital asset infrastructure,” said Franklin Templeton CEO Jenny Johnson.
Speed, Cost Efficiency, and Global Access
FRNT is designed for near-instant settlement, with transaction fees below $0.01, global accessibility via the internet, and real-time auditability. The state said the token is intended for both retail users and institutions, offering reduced counterparty risk compared to traditional settlement systems.
The stablecoin is currently available for purchase on Kraken, a cryptocurrency exchange domiciled in Wyoming.
Why Solana Was Chosen as the Base Layer
After evaluating 11 different blockchains, the Wyoming Stable Token Commission selected Solana as FRNT’s native network, citing performance and scalability considerations.
To extend usability across ecosystems, LayerZero provides cross-chain functionality, allowing FRNT to bridge to Ethereum, major Layer-2 networks such as Arbitrum, Optimism, Base, Polygon, and the Layer-1 blockchain Avalanche.
From Research to Launch
The commission began exploring a state-backed stablecoin in 2023, following the passage of the Stable Token Act. Although the token was initially scheduled to launch earlier in the week, a technical issue briefly delayed the rollout before the public release was finalized.
