Wyoming becomes first US public entity to roll out stablecoin

The state of Wyoming has become the first US public entity to launch a blockchain-based stablecoin.

The Wyoming Stable Token Commission announced that the Frontier Stable Token (FRNT) will be fully backed by US dollars and short-duration treasuries, held in trust for the benefit of token holders.

It added that FRNT fortifies its stability with a legislatively-mandated remit to achieve two per cent overcollateralisation.

The stablecoin uses blockchain technology to offer instant transaction settlement, reduced fees, and enhanced accessibility for all users.

Through a partnership with token issuance partner LayerZero, the Commission has launched FRNT on seven blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.

FRNT will be made available for purchase on the Solana blockchain through Wyoming-domiciled digital asset exchange Kraken in the coming days, as well as Rain’s Visa-integrated card platform on the Avalanche blockchain.

“For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016,” said Wyoming Governor Mark Gordon. “Today, Wyoming reaffirms its commitment to financial innovation and consumer protection.”

Gordon continued: “The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.”

Earlier this month, Standard Chartered announced the formation of Anchorpoint Financial, a joint venture with Animoca Brands and Hong Kong Telecommunications (HKT), to apply for a stablecoin issuer licence in Hong Kong.

The move positions Anchorpoint—a joint-venture with gaming developer Animoca Brands and telco HKT—as the first entity to formally initiate the licensing process under the city’s new stablecoin ordinance, which came into effect on 1 August 2025.

In July, Paxos, a regulated blockchain infrastructure and tokenisation platform, launched its Global Dollar stablecoin in the EU.

The Global Dollar (USDG) is a stablecoin regulated by the EU’s Markets in Crypto-Assets (MiCA), the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS).

Paxos estimates the launch of the stablecoin will open access to over 450 million consumers in 30 countries.

Photo Credit: Theo Stein / USFWS