The Wyoming Stable Token Committee is the authorized body in the state to issue stablecoins, and it has announced the mainnet launch of the Frontier Stable Token (FRNT).
The committee stated in a Tuesday announcement that the FRNT stablecoin is a digital token fully backed by short-term U.S. Treasury bonds and U.S. dollars, with a legal reserve requirement of 102%.
According to CryptoAmerica host Eleanor Terrett, FRNT is now live on seven blockchains, including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base.
"However, due to ongoing regulatory hurdles, the token is not yet available to the public," Terrett mentioned in a post on X on Tuesday.
The mainnet launch of FRNT is expected to be announced at the Wyoming Blockchain Symposium, the second annual event hosted by financial network platform SALT and Kraken exchange.
"For years, Wyoming has been a leading state in blockchain, cryptocurrency, and digital asset regulation, having passed over 45 pieces of legislation since 2016," said Wyoming Governor Mark Gordon, adding:
The official announcement highlighted the committee's collaboration with the blockchain interoperability protocol LayerZero to provide FRNT across multiple blockchain networks.
The committee indicated that the initial availability of FRNT is expected in the coming days through purchases on the Solana blockchain via the cryptocurrency exchange Kraken, which is registered in Wyoming.
"Public availability will be notified through this office and the stable token committee's distribution," it added.
According to an announcement shared by Avalanche developer Ava Labs, Wyoming's FRNT stablecoin will be usable anywhere Visa is accepted.
Supported payment channels include major mobile payment and digital wallet services like Apple Pay and Google Pay, as well as physical cards.
"The issuance of FRNT marks a paradigm shift," said Anthony Apollo, the committee's executive director, emphasizing that Wyoming has been one of the pioneers in cryptocurrency adoption and digital asset legislation in the U.S.
"In addition to regulation, public entities now have innovative models that can significantly enhance government process efficiency," Apollo stated, adding:
An Ava Labs spokesperson also told Cointelegraph that FRNT is the same token as the previously mentioned Wyoming Stable Token (WYST) and Wyoming Electronic Stable Token (WEST).
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Original article: “Wyoming Launches Visa-Supported FRNT Stablecoin on 7 Blockchains”
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