Wyoming Launches First US State-Backed Stablecoin on Solana
What Is FRNT and Why Is It diverse?
Wyoming has officially launched the Wyoming Frontier Stable Token, or FRNT, making it the first blockchain-based, dollar-pegged asset issued by a U.S. state. The token became publicly available on Wednesday and is issued under the Wyoming Stable Token Act, following more than a year of research, testing, and legal groundwork by the Wyoming Stable Token Commission.
Unlike privately issued stablecoins, FRNT is backed by state-managed reserves and governed directly under state law. Its holdings are overcollateralized and held in a Wyoming trust, invested solely in U.S. dollars and . The structure is designed to mirror the mechanics of major fiat-backed stablecoins while adding a layer of public-sector oversight.
“Designed under the leadership of the Wyoming Stable Token Commission, the Frontier Stable Token ($FRNT) represents a milestone in financial innovation — bringing together the security and oversight of state-managed reserves with the efficiency and transparency of technology,” Wyoming representatives said in a statement.
Investor Takeaway
Why Did Wyoming Decide to Issue Its Own Stablecoin?
Wyoming has spent years laying the legal foundation for digital assets. The state was among the first to recognize DAOs as legal entities, introduced a dedicated charter for crypto-focused banks through Special Purpose Depository Institutions, and passed the Stable Token Act to study whether a state-issued digital dollar could operate within existing financial rules.
The Stable Token Commission began formal research in 2023, testing 11 blockchains and evaluating reserve management, custody, compliance, and settlement performance. That process culminated in the decision to issue FRNT as a state-backed asset rather than relying on private issuers or federal pilots.
Interest earned on FRNT’s reserves will be directed toward Wyoming’s public school funding program, giving the token a defined fiscal role beyond payments or settlement. State officials have described this as a way to create a new revenue stream without raising taxes or issuing debt.
How Is FRNT Structured and Where Can It Be Used?
FRNT is issued natively on Solana, which the commission selected later than its testing phase concluded in August. At launch, the token is also available on six additional networks through cross-chain infrastructure, including the ETH base layer, Arbitrum, Base, Optimism, Polygon, and the Layer 1 Avalanche network.
LayerZero provides the bridging layer, allowing FRNT to move between chains while keeping Solana as the native settlement environment. Wyoming said the design allows “settlement in seconds” with transaction fees below $0.01, instant auditability, and lower counterparty exposure than traditional payment systems.
Franklin Templeton was appointed to manage FRNT’s reserves, with its affiliate Fiduciary Trust Company International acting as custodian. The token is available for purchase through Kraken, a Wyoming-domiciled platform, giving the state a regulated on-ramp for both retail users and institutions.
“Our collaboration with the State of Wyoming demonstrates what’s possible when the public and private sectors work together to create a compliant, trusted assets,” Franklin Templeton CEO Jenny Johnson said.
Investor Takeaway
How Does FRNT Fit Into the Broader Stablecoin Landscape?
FRNT enters a market dominated by private issuers such as Tether and Circle, as well as bank-led experiments like J.P. Morgan’s deposit token. The key difference is accountability. Wyoming’s stablecoin is governed by statute, overviewn by a public commission, and subject to state-level transparency requirements.
The launch also arrives as regulators debate how stablecoins should be treated at the federal level. While Congress has yet to pass a comprehensive framework, Wyoming’s approach shows that state-level issuance is possible under existing law, without waiting for national legislation.
That said, FRNT’s scale will matter. State-issued backing does not guarantee adoption, and liquidity, platform support, and user trust will determine whether FRNT becomes a functional settlement asset or remains a symbolic . Wyoming initially planned to launch the token earlier in the week, but a technical issue delayed the release, highlighting the operational challenges that still accompany public-sector blockchain projects.
Even so, the launch places Wyoming in a unique position. FRNT is now live, spendable, and transferable across multiple chains, offering a real-world test of whether a state can issue and manage a digital dollar alongside private stablecoins. The outcome could influence how other states — and potentially federal agencies — approach tokenized money.
