Wyoming becomes the first US state to deploy a government-backed stablecoin, the Frontier Stable Token (FRNT), across seven major blockchains including Ethereum and Solana.
Wyoming, nicknamed the “Equality State,” has become the first US state or territory to launch its own government-backed stablecoin with the deployment of the Frontier Stable Token (FRNT) mainnet on Aug. 19.
According to a press bulletin from Wyoming Governor Mark Gordon, the FRNT token’s mainnet is live on the Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana blockchains. However, due to remaining regulatory hurdles, the token is not yet available to the public as of the time of this article’s publication.
A post on X from the Wyoming Stable Token Commission indicates that public trading will be offered “in the coming days” during an early access period through the Kraken exchange with further expansion expected thereafter.
…and Franklin Advisers.
FRNT is planned to be made available for purchase on the Solana blockchain through Wyoming-domiciled digital asset exchange @krakenfx in the coming days, as well as @raincards' Visa-integrated card platform on the Avalanche blockchain.
Full Release:…
— Wyoming Stable Token Commission (@wyostable) August 19, 2025
As Coinspeaker reported on June 20, Kraken relocated its headquarters from San Francisco to Cheyenne, Wyoming to take advantage of a regulatory environment that company executives referred to as the most “coherent digital asset structure in the country.”
Wyoming’s FRNT Token: Technical Details and Strategic Alliances
The FRNT stablecoin is reportedly backed by the US dollar 1:1 and fortified with a legislatively-mandated remit to achieve 2% overcollateralization. LayerZero is the state’s issuance partner while blockchain infrastructure will be handled through Fireblocks. Other project partnerships include reserves management through Franklin Advisers, open-source intelligence from Inca Digital, and financial audit and monthly attestations from The Network Firm.
Stablecoins have been on the rise throughout the global cryptocurrency ecosystem in the wake of renewed regulatory efforts from governments in the US, Europe, and Asian markets.
In the US, the passage of the GENIUS Act spurred a cacophony of activity across the crypto world with premier coins such as Bitcoin and Ethereum reaching all-time highs in its wake and the advent of dozens of stablecoin projects including Wyoming’s.
Meanwhile, the South Korean Financial Services Commission is set to propose a regulatory framework for a won-pegged stablecoin in October and US financial conglomerate Citigroup is considering launching custody services for stablecoins under the new regulatory structure.
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