State of Wyoming Launches A Stablecoin

The Wyoming Stable Token Commission, chaired by Wyoming Governor Mark Gordon, has launched the Frontier Stable Token (FRNT) on mainnet, described as the first state-issued stablecoin in the United States. FRNT is fully backed by U.S. dollars and short-duration treasuries held in trust, with a legislatively mandated 2% overcollateralization, and it is live on seven blockchains including Ethereum, Arbitrum, Base, Optimism, and Polygon. LayerZero handles issuance, Fireblocks provides infrastructure, and Franklin Advisers manages reserves.