Wyoming has launched Frontier Stable Token, a dollar-pegged stablecoin backed by cash and U.S. Treasuries, with excess Treasury interest earmarked for public schools after reserves and development costs.
Wyoming has officially launched Frontier Stable Token, or FRNT, becoming the first U.S. state to issue a state-level stablecoin. The 1:1 dollar-pegged token is overseen by the state Stable Token Commission and backed by cash and U.S. Treasuries. Under the structure described by Bloomberg, Treasury interest generated by the reserves is intended to support local public schools after development costs are covered and a 2% reserve is built. The rollout turns Wyoming’s long-signaled digital-asset push into a live public-finance and crypto market test, offering a closely watched example of how a government-linked stablecoin could be structured and used.