Frontier Stable Token (FRNT)
Frontier Stable Token (FRNT) is a state-issued stablecoin launched by the U.S. state of Wyoming. It is a fully collateralized digital token pegged to the U.S. dollar and backed by short-duration U.S. Treasury bills and cash reserves. [1] [2]
Overview
The Frontier Stable Token (FRNT) was introduced on August 19, 2025, by the Wyoming Stable Token Commission, an entity authorized by the state government. This launch marked the first instance of a U.S. state creating and issuing its own stablecoin, positioning Wyoming as a pioneer in government-led digital currency initiatives. The stated goal of FRNT is to provide a modern, secure, and efficient medium for digital transactions for individuals, businesses, and institutions. The official announcement of the mainnet launch was scheduled for the second annual Wyoming Blockchain Symposium, an event co-hosted by the crypto exchange Kraken and the finance networking platform SALT. [1] [2]
The stablecoin is designed to maintain a one-to-one peg with the U.S. dollar through full collateralization. Its reserves consist of U.S. dollars and short-term U.S. Treasury securities, which are held in a trust to safeguard the interests of token holders. A key feature of its design is a statutorily mandated reserve requirement of 102%, meaning the value of the assets held in reserve must exceed the total value of the circulating FRNT supply by at least 2%. This measure is intended to provide an extra layer of security and confidence in the token's stability. [1]
FRNT enters a competitive stablecoin market with an estimated value of around $285 billion, dominated by established private issuers such as Tether (USDT) and Circle (USDC). The project's launch coincides with growing interest from traditional financial institutions in the stablecoin sector and increasing regulatory focus from governments worldwide. U.S. Treasury Secretary Scott Bessent commented on the potential of such assets, stating, “Stablecoins will expand dollar access for billions across the globe and lead to a surge in demand for US Treasuries, which back stablecoins.” Despite its mainnet launch, FRNT was not immediately available for public purchase due to pending regulatory clearances. [2]
History
The development of the Frontier Stable Token is a direct result of Wyoming's long-standing efforts to create a favorable regulatory environment for the digital asset industry. Since 2016, the state has enacted over 45 pieces of legislation related to blockchain technology and cryptocurrencies, establishing itself as a leading jurisdiction for digital innovation in the United States. This legislative groundwork paved the way for the creation of the Wyoming Stable Token Commission, the government body tasked with overseeing the issuance and management of FRNT. [1]
Wyoming Governor Mark Gordon, who also serves as the chair of the commission, highlighted the state's proactive approach: “For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016. 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.” Before its official launch under the name FRNT, the project was referred to by other names, including Wyoming Stable Token (WYST) and Wyoming Electronic Stable Token (WEST). [1] [2]
Technology
The Frontier Stable Token is designed as a multi-chain asset to ensure broad accessibility and utility across the decentralized finance (DeFi) ecosystem. At its launch, FRNT was deployed on seven different blockchain networks. [2]
The supported blockchains include:
This multi-chain functionality is enabled through a collaboration with LayerZero, a blockchain interoperability protocol. LayerZero's technology allows for the seamless transfer and use of FRNT across these disparate networks, preventing the token from being siloed within a single ecosystem. This approach aims to maximize its potential for adoption in various applications and platforms. [1]
Tokenomics
The economic model of the Frontier Stable Token is centered on maintaining stability and trust through a conservative reserve policy. Each FRNT token is pegged 1:1 to the U.S. dollar. [2]
Key features of its tokenomics include:
- Collateral: The token is fully backed by a combination of U.S. dollars and short-duration U.S. Treasury bills. These assets are considered low-risk and highly liquid.
- Reserve Ratio: Wyoming law mandates that the commission maintain reserves valued at a minimum of 102% of the total circulating supply of FRNT. This over-collateralization is designed to absorb potential fluctuations in the value of the reserve assets and provide a buffer to ensure redemptions can always be met.
- Custody: All reserve assets are held in a trust, legally separate from the state's general funds, to protect token holders.
This model contrasts with algorithmic stablecoins by relying entirely on tangible, audited assets to maintain its peg. [1]
Use Cases and Adoption
FRNT is intended for a wide range of applications, spanning both public and private sector use cases. A significant partnership with Visa allows the stablecoin to be used for payments at any merchant that accepts Visa. This integration extends to major mobile payment platforms, including Apple Pay and Google Pay, as well as physical payment cards. [1]
Anthony Apollo, the executive director of the Wyoming Stable Token Commission, outlined the potential for government-related applications. He stated, “From paying vendors in seconds to enabling tax refunds and social benefits on-chain, FRNT brings state action into the programmable era.” This vision positions FRNT as a tool for modernizing government processes, making them more efficient and transparent through the use of blockchain technology. [1]
Initial public access to FRNT is planned to be rolled out gradually. The Wyoming-based cryptocurrency exchange Kraken is slated to be the first platform to offer FRNT for purchase, with initial availability on the Solana blockchain. Public availability is contingent on regulatory approvals and will be formally announced by the commission. [2]
Partnerships
To facilitate its launch and adoption, the Wyoming Stable Token Commission established several key partnerships with firms in the blockchain and financial technology sectors. These collaborations are crucial for the token's technical functionality, market access, and real-world utility. [2]
Major partners include:
- LayerZero: Provides the core interoperability protocol that allows FRNT to operate across seven different blockchains.
- Kraken: A U.S.-based cryptocurrency exchange that will serve as the initial venue for the public to purchase FRNT on the Solana network.
- Visa: The global payments giant, enabling FRNT to be spent at millions of merchant locations worldwide through its network.
- Raincards: A Visa-integrated card platform that will specifically support FRNT transactions on the Avalanche blockchain.
- Ava Labs: The primary developer of the Avalanche blockchain, which confirmed the integration with Visa and Raincards.
These partnerships provide the foundational infrastructure for FRNT's distribution, cross-chain capabilities, and integration into the existing global payment system. [1]