Stablecoin FRNT, backed by the state of Wyoming, goes directly to the public
Wyoming's Frontier Stable Token (FRNT), the first stablecoin issued by a US state, is now available to the public following delays due to regulatory hurdles.
“It's the first fiat-backed, fully owned stablecoin to be issued by a public entity in the United States,” state Governor Mark Gordon said on Wednesday.
He added that the token would provide a “cheaper, faster and more transparent method of transaction” and could “be another source of funding for our schools and reduce the burden on taxpayers in our state.”
The token can be bought on the crypto exchange Kraken and runs on the Solana blockchain, but it can also be integrated into Arbitrum, Avalanche, Base, Ethereum, Optimism and Polygon using the Stargate platform.
Stablecoin can be purchased through Rain, a Visa-powered, integrated card platform that runs on the Avalanche blockchain.
More and more countries and banks have plans to launch or adopt stablecoins due to the increasing success of tokens in the past year. A North Dakota bank announced plans to launch a state-issued token, Roughrider Coin, in November, with the first test expected later this year.
Stablecoin aims to reduce banking fees.
FRNT was designed by the seven-member Wyoming Stable Token Commission and is intended for both individual and institutional use.
It is backed entirely by US dollars and short-term US Treasuries, and interest income on the reserve goes back to the state, the governor's office said.
Converse County Treasurer Joel Schell said another key benefit of accepting FRNT is the lower fees associated with transfers compared to credit card processing costs.
FRNT allows dollar-denominated peer-to-peer transactions with fast settlement times, around-the-clock availability, and approximately $0.01 fees.
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“The county is like any other business – we take credit cards, but we can't raise registration fees and property taxes to cover the operating costs, so we pass those costs on directly to the customers,” Schell said.
“Last year my office took in about $3.4 million in credit card transactions, which cost our processes about $70,000 in fees our processors collected. We're anxious to get out of that climate and transition to something else. Electronic payments, especially stable tokens, allow us to be more efficient.”
FRNT scale throughout 2026
Wyoming's Stable Token Commission plans to grow FRNT throughout 2026 by onboarding additional sales partners, deploying the token by other state agencies, and working with public entities interested in launching their own stable coins.
The commission conducts quarterly reviews for potential new blockchains for FRNT deployment. Anthony Apollo, the commission's executive director, said he was looking forward to “expanding the program throughout 2026.”
“As we work to increase the supply of FRNT in circulation, we look forward to using the stable token as a tool to increase government efficiency,” he said.
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