On September 4, the Wyoming Stablecoin Committee announced in its last committee meeting that the first state-issued stablecoin in the U.S., Frontier Stable Token (FRNT), is set to launch on Hedera. In the committee's second-quarter assessment, Hedera was selected as the sole candidate blockchain for FRNT due to its strict standards in speed, reliability, and compliance. FRNT is the first state-issued stablecoin in the U.S. created under the 2023 Wyoming Stablecoin Act. The token is fully backed by U.S. dollars and short-term government bonds, with an additional 2% reserve to ensure stability. The design of FRNT aims to demonstrate how digital assets can enhance public finance by enabling faster, more transparent, and more efficient payments.
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The stablecoin FRNT issued by Wyoming is about to launch on Hedera.
On September 4, the Wyoming Stablecoin Committee announced in its last committee meeting that the first state-issued stablecoin in the U.S., Frontier Stable Token (FRNT), is set to launch on Hedera. In the committee's second-quarter assessment, Hedera was selected as the sole candidate blockchain for FRNT due to its strict standards in speed, reliability, and compliance. FRNT is the first state-issued stablecoin in the U.S. created under the 2023 Wyoming Stablecoin Act. The token is fully backed by U.S. dollars and short-term government bonds, with an additional 2% reserve to ensure stability. The design of FRNT aims to demonstrate how digital assets can enhance public finance by enabling faster, more transparent, and more efficient payments.