Wyoming has launched $FRNT, the Frontier Stable Token, as the first state-issued stablecoin in the United States. The stablecoin is available to the public on the Solana blockchain through Kraken.
The token is designed and overseen by the Wyoming Stable Token Commission. Additionally, it is fully backed by cash and US Treasury securities held under state supervision.
How $FRNT Works on Solana
$FRNT is pegged one to one to the US dollar and operates as a fully reserved stable token with assets managed by Franklin Templeton and custodied by its affiliate, Fiduciary Trust Company International. The state selected Solana as one of the initial live networks, with Kraken listing $FRNT on Solana for public purchase and transfers.
The stablecoin uses LayerZero’s interoperability infrastructure for issuance across multiple chains and relies on Fireblocks for secure blockchain operations.
While the broader design targets deployment on networks including Ethereum, Avalanche, Arbitrum, Optimism, Polygon and Base, current public access runs through Solana via Kraken and Avalanche via Rain’s Visa-powered card platform.
Governance, Reserves and Public Purpose
The Wyoming Stable Token Commission, created by the Wyoming Stable Token Act in 2023, is responsible for issuing and supervising $FRNT as a public instrument rather than a private corporate product.
Commission materials state that reserves consist of short-term US Treasuries and cash, with the token structured as fully collateralized and bankruptcy remote.
Net income from the underlying reserve portfolio will flow to the Wyoming School Foundation Fund on a quarterly basis instead of accruing to a private issuer, with future options under discussion to share some yield with token holders.
State Senator Chris Rothfuss has framed the project as a way to align stablecoin economics with public finance while keeping operations within constitutional and state law constraints.
Position in the Stablecoin Landscape
The FRNT stablecoin arrives after the US Congress passed the GENIUS Act. The Act set federal standards for stablecoin issuance and enabled public entities to participate under defined safeguards.
The token stands alongside privately issued stablecoins such as USDT and USDC but differs by placing issuance, reserve management and policy decisions under a state commission.
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