Key Takeaways:
- Wyoming has launched $FRNT, the first fiat-backed, fully reserved stablecoin issued by a U.S. state, now live on Solana.
- $FRNT is available to the public via Kraken, with cross-chain access to Ethereum, Arbitrum, Avalanche, Base, Optimism, and Polygon.
- Interest earned on reserves flows back to Wyoming’s public schools, positioning the stablecoin as a revenue-generating public good.
Wyoming has taken a historic step in crypto adoption, bringing the first U.S. state-issued stablecoin into live public circulation. The launch places Wyoming at the center of the fast-growing stablecoin market while signaling a new model for government participation in onchain finance.
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Wyoming Brings a State-Issued Stablecoin to Public Markets
Frontier Stable Token is now available on the Solana blockchain and it is referred to as, $FRNT. It is the original stablecoin ever issued by a governmental body in the history of the United States, fully supported by the U.S. dollar and short-term American Treasuries, and sold to the public.
It is also in contrast to privately issued stablecoins, as the Wyoming Stable Token Act regulates $FRNT under the statute. The Wyoming Stable Token Commission is in charge of oversight, and it should issue fully reserved digital dollars with transparency and accountability to the people.
The token is currently available to Kraken, a cryptocurrency exchange with its headquarters in Wyoming. Through the cross-chain infrastructure provided by Stargate, users are able to purchase $FRNT on Solana and transfer it to and from prominent Layer-1 and Layer-2 networks. The network supported includes Ethereum, Arbitrum, Avalanche, Base, Optimism, Polygon, and Solana, which will expand in 2026. It is the product of close to ten years of legislative preparation by the Wyoming legislature that has made the state one of the most crypto-friendly jurisdictions within the U.S.
How $FRNT Works and What Makes It Different
$FRNT is targeted at individuals and institutions that use retail. It allows peer-to-peer transactions in dollars, which are immediately settled in a matter of seconds, and transaction costs are less than a penny. The token is instantly auditable, globally accessible with an internet connection, and has less counterparty risk than the traditional payment rails..
State-Managed Reserves and Public Transparency
As opposed to those of corporate issuers, Wyoming has the reserves of the $FRNT held in trust and invests only in cash and short-term U.S. Treasuries. Shareholders do not receive interest generated on these reserves. Rather, net income will be reverted back to the state, and a part of it will be sent to the School Foundation Fund of Wyoming.
This design transforms stablecoin holdings into a social source of revenue instead of an enterprise. It also harmonizes the design of the token with the fiscal responsibility regulations that are already in place to control the state finances.
Decisions related to issuance, reserves, and expansion are made in public Commission meetings, allowing citizen oversight that does not exist with private stablecoin operators.
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Planned Uses Beyond Trading
In 2026, Wyoming plans to:
- Onboard new resale partners to broaden distribution
- Integrate $FRNT into state agencies to lower payment costs
- Partner with other public entities exploring similar stablecoin models
This strategy positions $FRNT not as a crypto asset, but as financial infrastructure. The stablecoins have come to symbolize a market worth over $300 billion around the world. Concurrently, foreign Treasury holders of the U.S. have been de-exposing on the U.S. Treasuries. Stablecoins issued by the state such as $FRNT produce a new audience of domestic buyers of short-term government debt.
Source: https://www.cryptoninjas.net/news/wyoming-launches-first-u-s-state-stablecoin-frnt-on-solana-taps-300b-market-with-sub-cent-fees/
