Meet The Frontier Stable Token, Wyoming’s Bold Financial Move

Wyoming has officially launched state-issued stable tokens after announcing the plan last year.

We have made a correction this article to reflect that these tokens are not backed by the State of Wyoming and their value does not come from existing government-held assets.

What are they?

A state issued stable token is a government-backed digital currency designed to hold a stable value by being backed with government-held assets, like dollars and short-term U.S. treasuries. But unlike private stable coins, state tokens are rooted in government trust and legal mandates, which makes them a secure way to conduct transactions on a blockchain.

Key Characteristics of Wyoming's Frontier Stable Token

They are not backed by the State of Wyoming*. The stable value does not come from existing "government-held" assets. Instead, tokens are only issued when dollars are received from licensed service providers. The funds from those service providers are held in an account for the benefit of the token holders, managed by reserves management vendors.

FRNT operates on seven major blockchains, including Ethereum, Solana, and Avalanche. The issuance and administration of FRNT are overseen by the Wyoming Stable Token Commission, established under the Wyoming Stable Token Act.

A stable token's stability and speed make it attractive for efficient everyday transactions and cross-border payments.

Kind of a Big Deal

Wyoming is the only state that has an official stable token. FRNT very likely could be the model for how governments modernize payments, settlements and public finance infrastructure in the future.

“For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016,” said Wyoming Governor Mark Gordon. “Today, Wyoming reaffirms its commitment to financial innovation and consumer protection. 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 serves as Chairman of the Stable Token Commission.