Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Wyoming Authorities Launch State-Issued Stablecoin

Wyoming Authorities Launch State-Issued Stablecoin

CoinspaidmediaCoinspaidmedia2025/08/20 17:30
By:Coinspaidmedia

The state of Wyoming launched a government-backed stablecoin, secured by U.S. dollars and short-term Treasury securities. The asset is deployed simultaneously across seven blockchains and integrated with Visa’s payment infrastructure.

Wyoming Authorities Launch State-Issued Stablecoin image 0

Wyoming officials announced the launch of Frontier (FRNT), the first state-issued stablecoin in the United States. The asset is issued simultaneously on Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base.

According to the state, launching FRNT across seven networks is intended to broaden potential use cases and ease integration into decentralized app ecosystems. FRNT will also be integrated with Visa’s payment infrastructure, allowing Visa cardholders to use it for everyday payments.

During development, the project went under the working names Wyoming Stable Token (WYST) and Wyoming Electronic Stable Token (WEST). However, after approval and mainnet deployment, it officially launched as Frontier (FRNT).

FRNT reserves consist of cash and short-term U.S. Treasury securities. Wyoming law requires over-collateralization of 2%, meaning the total reserve must equal 102% of the circulating supply.

Issuance is overseen by the Stable Token Commission, a state agency established in 2023 under the Wyoming Stable Token Act. Key industry partners include:

  • LayerZero, a blockchain platform for cross-chain interoperability, providing the technical foundation;
  • Fireblocks, a digital asset custody provider, responsible for token storage and security;
  • Franklin Advisers, a subsidiary of Franklin Templeton managing the reserves;
  • Inca Digital, an analytics firm providing data monitoring;
  • The Network Firm, an audit company conducting independent audits and attestations.

The stablecoin was officially launched during the second annual Wyoming Blockchain Symposium, organized with the participation of Kraken and SALT. Wyoming Governor Mark Gordon noted that the state passed more than 45 digital asset and blockchain laws in recent years, enabling it to become the first U.S. state to issue a government-backed stablecoin.

Although FRNT went live on mainnet with ready infrastructure, it’s not yet available to the general public due to pending regulatory issues. The state confirmed it’s working to resolve these matters to ensure full access. The Stable Token Commission won’t sell FRNT directly to users. Instead, distribution will be handled exclusively through authorized resellers subject to strict KYB checks. This model was chosen to meet compliance requirements and increase transparency.

While Wyoming authorities were among the first to reject the rising idea of using Bitcoin as state reserves, they consistently supported Web3 initiatives. For example, decentralized autonomous organizations (DAO) in the state were granted official legal status.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Cigarette toss leads to arrest of $13 million crypto conman

Share link:In this post: Seoul police caught a $13M crypto conman after he tossed a cigarette and tried to flee. He’d been on the run since 2020, wanted on 10 charges including fraud and assault. Other scammers like James Zhong and “Razzlekhan” also slipped up due to dumb mistakes.

Cryptopolitan2025/08/23 00:55

Dow jumps 846 points to record close, S&P and Nasdaq rally over 1.5%

Share link:In this post: The Dow jumped 846 points to close at a record 45,631.74 after Powell signaled rate cuts may start next month. The S&P 500 and Nasdaq gained over 1.5%, driven by strong tech stock rallies. Gold, silver, and other metals rose as the U.S. dollar dropped sharply following Powell’s comments.

Cryptopolitan2025/08/23 00:55

Apple sues Oppo over alleged theft of technology

Share link:In this post: Apple filed a lawsuit claiming that Oppo hired Chen Shi, a former Apple Watch engineer, and encouraged him to take confidential health-sensing data to build a competing wearable. Before leaving Apple in June, Shi allegedly downloaded 63 internal documents. Apple says this case fits a broader pattern, referencing past incidents involving trade secrets going to China.

Cryptopolitan2025/08/23 00:55

Viral document sparks claims U.S. government owns XRP

Share link:In this post: A 12-year-old USPTO document has sparked claims that the U.S. government owns the “XRP” patent. While real, the document was initiated by OpenCoin, the now Ripple. Ripple Labs currently has 67 trademark applications and 18 approved patents.

Cryptopolitan2025/08/23 00:55
Viral document sparks claims U.S. government owns XRP