The state of Wyoming has officially launched the Frontier Stable Token (FRNT), marking the debut of the first fully reserved, U.S. dollar-backed stablecoin issued by a public entity in the United States. Announced Tuesday at the Wyoming Blockchain Symposium in Jackson Hole, the token is now live on seven major blockchains: Arbitrum (ARB), Avalanche (AVAX), Base, Ethereum (ETH), Optimism (OP), Polygon (POL), and Solana (SOL).
Governor Mark Gordon, who also chairs the Wyoming Stable Token Commission, hailed the launch as a transformative step for public finance and digital innovation. “The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age,” Gordon said in a statement.
FRNT is backed by a 102% reserve of U.S. dollars and Treasury bills, ensuring full asset coverage and designed to reduce transaction costs and delays in government and commercial payments. The state recently completed a test transaction using the Avalanche-based Hashfire network to make a real-time payment to a government contractor—demonstrating the token’s practical utility in public finance.
Unlike privately issued stablecoins such as USDC and USDT, FRNT is structured as a public good. Interest earned on the reserve assets will be reinvested into state programs, particularly education and other publicly oriented initiatives—a move aimed at addressing budget shortfalls and shifting the narrative around stablecoins from profit-driven instruments to tools for public benefit.
With state pension shortfalls nationwide projected to reach nearly $1.4 trillion by the end of 2024, according to research firm Equitable, Wyoming’s model offers a potential blueprint for other states seeking innovative fiscal solutions. “This framework provides a roadmap for states to generate sustainable revenue while advancing financial technology,” the state noted.
To ensure transparency and security, the Wyoming Stable Token Commission has partnered with a suite of leading blockchain and financial firms. LayerZero is handling cross-chain token issuance, Fireblocks provides blockchain infrastructure, Franklin Advisers manages the reserves, Inca Digital offers open-source intelligence, and The Network Firm conducts audits and monthly attestations—all selected through a formal procurement process.
A key design principle of FRNT is its resistance to centralization and surveillance, directly addressing concerns associated with central bank digital currencies (CBDCs). The token operates across seven decentralized networks, and state law prohibits Wyoming from imposing arbitrary restrictions on its use that would infringe on constitutional rights. These safeguards, combined with its public-purpose mandate, distinguish FRNT from both private stablecoins and potential CBDCs.
The launch follows the recent passage of the federal GENIUS Act, which establishes a national regulatory framework for stablecoins, enhancing reporting, disclosure, and control standards. Wyoming, long a pioneer in blockchain legislation, created the Stable Token Commission in 2023 to lead the development and integration of a state-backed digital dollar.
While FRNT is not yet widely available to the public, it will soon be accessible on Solana via Kraken, a Wyoming-domiciled exchange, and through Rain’s Visa-integrated card platform on Avalanche.
Analysts view the rollout as a significant milestone in the evolution of digital assets. “Wyoming might be the first state to successfully deploy a state-issued stable token, but it is unlikely to be the last,” noted commentary in a recent analysis. The careful legal and technical design of FRNT offers a replicable model for other states considering similar initiatives.
As Secretary Bessent and other federal officials emphasize the strategic importance of stablecoins in maintaining U.S. dollar dominance globally, Wyoming’s Frontier Stable Token represents a bold experiment at the intersection of public finance, technology, and policy—one that could reshape how governments engage with the digital economy.