Ethereum News Today: Wyoming’s Stablecoin Revolution: A New Model for Public Innovation

Wyoming has launched the Frontier Stable Token (FRNT), a U.S. dollar-backed stablecoin issued by a public entity, marking a significant milestone in the U.S. stablecoin market. Governor Mark Gordon, who chairs the Wyoming Stable Token Commission, emphasized in a statement that the token aims to provide "a modern, efficient, and secure means of transacting in the digital age" for citizens and businesses. FRNT is the first fully-reserved stablecoin issued by a state government in the U.S., backed by U.S. dollars and short-duration U.S. treasuries held in trust and overcollateralized at 102% [1].

The token is deployed on multiple blockchain networks, including Ethereum, Solana, Arbitrum, Avalanche, Base, Optimism, and Polygon. It is designed to be programmable and interoperable, using LayerZero’s Omnichain Fungible Token (OFT) standard, which supports over 110 blockchains [1]. This deployment strategy reflects Wyoming’s forward-thinking approach to blockchain technology and aims to facilitate seamless integration into the broader digital economy.

FRNT’s availability to the public is set to begin on the Solana network via Wyoming-domiciled crypto exchange Kraken and the Visa-integrated card platform Rain on the Avalanche blockchain. Governor Gordon announced that public availability will be announced through a distribution from the commission. The token will be accessible on major mobile payment platforms like Apple Pay and Google Pay, and through physical cards, aligning with Visa’s global acceptance [2].

Wyoming’s initiative includes a pilot program with Hashfire, a platform built on the Avalanche blockchain, which demonstrated real-time government contractor payments. The pilot reduced payment timelines from 45 days to seconds, representing a 99.9% efficiency improvement. This showcases the potential for FRNT to revolutionize government financial operations by enabling faster and more efficient transaction processes [4].

The token also introduces a unique model for revenue allocation, with interest generated from FRNT’s reserves being directed to Wyoming’s School Foundation Fund on a quarterly basis. This model distinguishes FRNT from traditional stablecoins by linking financial returns to public goods and education funding. Additionally, while FRNT is not currently regulated under the GENIUS Act—a federal framework for stablecoin regulation—Wyoming officials have clarified that the token operates under constitutional protections and is not subject to arbitrary restrictions, a feature that may appeal to users seeking financial sovereignty [3].

The launch of FRNT coincided with the Wyoming Blockchain Symposium, an event that draws attention from key players in the crypto and regulatory sectors. Executive Director of the Wyoming Stable Token Commission, Anthony Apollo, highlighted that the token represents a "paradigm shift" in public innovation and efficiency. Apollo also emphasized that FRNT is not a central bank digital currency (CBDC) and that it does not impose restrictions conflicting with Wyoming’s constitutional obligations, such as the Second Amendment [3].

Wyoming’s Stable Token Commission has partnered with multiple firms to support the development and management of FRNT, including LayerZero for token issuance, Fireblocks for blockchain infrastructure, Franklin Advisers for reserve management, Inca Digital for open-source intelligence, and The Network Firm for audits and attestations. These partnerships were selected through a competitive procurement process and reflect the state’s commitment to transparency and security in its blockchain initiatives [1].

Source:

[1] Stablecoin News: Wyoming State Launches Frontier Stable (https://www.coindesk.com/business/2025/08/19/wyoming-state-debuts-u-s-dollar-stablecoin-on-seven-blockchains)

[2] Wyoming Launches First State-Issued Stablecoin FRNT (https://cointelegraph.com/news/wyoming-frnt-stablecoin-visa-support-7-blockchains)

[3] Wyoming's 'Frontier' Stablecoin Debuts on Ethereum ... (https://decrypt.co/335704/wyomings-frontier-stablecoin-debuts-ethereum-solana-avalanche)

[4] Wyoming launches Frontier Stable Token FRNT on ... (https://cryptobriefing.com/wyoming-stablecoin-launch-frnt/)