Wyoming launches Visa-supported FRNT stablecoin on 7 blockchains
Wyoming announced the mainnet launch of the Frontier Stable Token stablecoin, becoming one of the first US states to issue a stablecoin.
The Wyoming Stable Token Commission, a body authorized by the US state to issue a stablecoin, announced the mainnet launch of the Frontier Stable Token (FRNT) stablecoin.
The FRNT stablecoin is a fully-collateralized digital token backed by short-duration US Treasury bills and US dollars, with a statutorily mandated 102% reserve requirement, the commission said in an announcement on Tuesday.
According to CryptoAmerica host Eleanor Terrett, the FRNT is now live on seven blockchains, including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism and Base.