Wyoming’s Frontier Stable Token (FRNT), marking the first stablecoin introduced by a US state, is now accessible to the public after facing delays due to ongoing regulatory issues.
Governor Mark Gordon announced on Wednesday that it is “the first fiat-backed, fully-reserved stable token to be issued by a public entity in the United States.”
He further stated that the token would offer “a cheaper, faster, and more transparent method of transacting,” and serve as “another funding source for our schools, reducing the taxpayer burden in our state.”
The token is available for purchase on the crypto exchange Kraken and operates on the Solana blockchain, with capabilities to bridge to Arbitrum, Avalanche, Base, Ethereum, Optimism, and Polygon through the Stargate platform.
Additionally, the stablecoin can be purchased through Rain, a Visa-powered integrated card platform that operates on the Avalanche blockchain.
As the popularity of stablecoins has surged over the past year, many countries and banks are planning to launch or adopt their own versions. The Bank of North Dakota has also announced intentions to introduce a state-issued token, the Roughrider coin, with initial testing slated for this year.
Stablecoin aims to cut bank fees
FRNT was developed by the seven-member Wyoming Stable Token Commission to cater to both individual and institutional users.
It is completely backed by US dollars and short-duration US Treasurys, with the interest generated from the reserves benefiting the state, as stated by the Governor’s office.
Converse County Treasurer Joel Schell noted that a significant advantage of adopting FRNT is the reduced fees for transfers, compared to traditional credit card processing costs.
FRNT enables dollar-denominated peer-to-peer transactions, featuring swift settlement times, 24/7 availability, and fees around $0.01.
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“The county operates like any business — we accept credit cards, but we can’t increase registration fees and property taxes to cover processing costs, so these costs are passed directly to customers,” Schell expressed.
“In the past year, my office processed around $3.4 million in credit card transactions, costing our constituents approximately $70,000 in fees to our processors. We’re eager to escape this situation and transition to something better. Electronic payments, especially using the stable token, would enhance our efficiency.”
FRNT scaling throughout 2026
The Wyoming Stable Token Commission aims to expand FRNT through 2026 by bringing on more resale partners, deploying the token across additional state agencies, and collaborating with public entities interested in launching their own stablecoins.
The commission conducts quarterly evaluations of new blockchains for potential FRNT deployment. Anthony Apollo, the commission’s executive director, expressed excitement about “scaling the program throughout 2026.”
“As we work to increase the supply of FRNT in circulation, we are also looking to utilize the stable token as a tool for improving government efficiency,” he added.
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