Wyoming launches FRNT, first fully fiat-backed state stablecoin
Wyoming has launched its Frontier Stable Token (FRNT), becoming the first U.S. state to issue a fully reserved, fiat-backed stablecoin.
The official rollout of FRNT marks a landmark moment for digital assets in the United States and represents a major step in Wyoming’s long-standing efforts to position itself as one of the most crypto-friendly jurisdictions in the country.
Wyoming Governor Mark Gordon described FRNT as the first fully reserved, fiat-backed stablecoin issued by a government entity in the U.S., highlighting its potential to reduce transaction costs, increase transparency, and generate new revenue streams for the state.
Interest earned on the token’s reserves will be returned to Wyoming and used to help fund public services such as education, while easing the tax burden on residents.
Low fees and blockchain-based convenience
Converse County Treasurer Joel Schell noted that credit card processing fees currently represent a growing financial burden for residents. By contrast, FRNT transfers can be executed nearly instantly, 24/7, at an estimated cost of around one cent per transaction.
FRNT was developed by Wyoming’s seven-member Stable Token Commission and is designed for both retail and institutional use. The token was initially issued on the Solana blockchain and is already available for purchase on Kraken.
Through the Stargate platform, FRNT can also be used across multiple blockchains, including Ethereum, Arbitrum, Avalanche, Base, Optimism, and Polygon. In addition, users can access FRNT via Rain — a Visa-enabled payments platform built on Avalanche — allowing the stable token to operate within familiar payment systems.
As we wrote, Wyoming picks Aptos and Sei for stablecoin pilot
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