Wyoming Launches FRNT Stablecoin to Cut Costs and Modernize Payments — Will Other States Follow?
Wyoming’s Frontier Stable Token (FRNT), the first stablecoin ever issued by a U.S. state, is officially available to the public following delays tied to lingering regulatory hurdles.
Governor Mark Gordon confirmed the launch on Wednesday, calling FRNT “the first fiat-backed, fully-reserved stable token to be issued by a public entity in the United States.”
The token can now be purchased on Kraken — a Wyoming-domiciled crypto exchange and Special Purpose Depository Institution — and is live on the Solana blockchain.
Users can bridge the token to Arbitrum, Avalanche, Base, Ethereum, Optimism, and Polygon via Stargate, widening its reach across major networks. FRNT is also available on Rain, a Visa-powered payments platform on Avalanche.
A State-Backed Digital Dollar Emerges
Governor Gordon said FRNT is the culmination of nearly a decade of legislative groundwork aimed at making Wyoming the most crypto-forward jurisdiction in the U.S.
The token is fully backed by U.S. dollars and short-duration Treasurys, and interest income from the reserves flows back to the state.
“Wyoming is an innovation leader for our nation,” Gordon said. “Our embrace of digital assets further demonstrates the strength of our enterprise and provides our citizens, businesses, and the nation a cheaper, faster, and more transparent means of transacting.”
He added that FRNT will also “provide another source of funding for our schools and can lower the taxpayer burden in our state,” highlighting the token’s dual role as a payment tool and revenue generator.
The seven-member Wyoming Stable Token Commission, established under the Wyoming Stable Token Act, designed and oversaw the launch of FRNT. Executive Director Anthony Apollo said the rollout marks only the beginning.
“We are excited to make FRNT available to the public and look forward to scaling the program throughout 2026,” he said.
Lower Fees and Faster Settlements
FRNT offers near-instant settlement, 24/7 availability, and transaction fees of roughly $0.01 — a dramatic contrast to traditional card networks and the processing costs they impose on merchants and local governments.
Converse County Treasurer Joel Schell, who participated in a pilot of the stable token, underscored the real-world savings.
“Last year my office took in about $3.4 million in credit card transactions, which cost our constituents about $70,000 in fees,” Schell said. “We’re anxious to get out of that climate and to move into something else. Electronic payments, especially the stable token, would let us get more efficient.”
The stablecoin’s design offers local governments, businesses, and residents a low-fee alternative for dollar-denominated transactions while reducing reliance on third-party payment processors.
Growing Interest in State and Institutional Stablecoins
FRNT’s launch comes amid rising interest in government-issued and institutionally-backed stablecoins.
In November, the Bank of North Dakota announced plans for its own state token, Roughrider Coin, with testing expected in 2026. Globally, a growing number of banks and public agencies are exploring stablecoins as adoption accelerates and demand for dollar-based digital assets climbs.
Wyoming officials believe the state’s fully reserved, transparent model offers a strong regulatory blueprint — especially as stablecoins increasingly act as major purchasers of U.S. Treasurys amid declining foreign holdings.
Scaling FRNT Through 2026
The Wyoming Stable Token Commission intends to expand FRNT’s footprint over the coming year by onboarding more resale partners, rolling out the token across additional state agencies, and collaborating with public institutions exploring stablecoin initiatives.
The commission also conducts quarterly assessments of new blockchains for possible FRNT deployments, signaling its intention to stay technologically agile as the digital-asset landscape evolves.
For Wyoming, FRNT represents the latest milestone in its broader campaign to establish itself as America’s leading blockchain and digital-asset hub. With the launch now complete, state officials are positioning the token as both a financial innovation and a foundation for more efficient government operations.
