State of Wyoming Debuts US Dollar Stablecoin on Solana

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Wyoming has introduced the Frontier Stable Token, the first publicly available, state-issued stablecoin in the US. The asset, which is pegged to the dollar, launched on the Solana blockchain this week.

The Wyoming Stable Token Commission oversaw the design of the token. State representatives framed the launch as a significant step forward, combining the security of state-managed reserves with the transparency inherent to distributed ledger technology.

This initiative represents another major institution exploring digital currency, joining entities like J.P. Morgan Chase. The US bank has developed its own deposit token for settling transactions on separate blockchain networks.

Officials emphasize that FRNT differs from private sector offerings like Circle’s USDC by providing transparent oversight and operating under clear legal authority. Its reserves will be overcollateralized and held in a local trust, restricted to holdings of US dollars and short-duration US Treasury securities.