[Wyoming Issues State-Level Stablecoin FRNT, Becoming the First U.S. State to Launch Its Own Cryptocurrency] According to Bloomberg, the U.S. state of Wyoming has officially issued the Frontier Stable Token (FRNT), pegged 1:1 to the U.S. dollar, making it the first state in the nation to launch a state-level stablecoin. The current circulation is approximately 1 million tokens. The coin is operated by the State Stablecoin Commission and backed by cash and U.S. Treasury bonds. Its goal is to cover development costs and establish a 2% reserve, after which interest from Treasury bonds will be used to fund local public schools. Kraken has already provided trading and custody services for FRNT. Around 20 states and several overseas territories are in discussions with Wyoming for white-label technology partnerships. Supporters hope FRNT will become a tool for interstate and even international settlements, while critics question its commercial viability and its impact on the traditional banking system.