Wyoming Becomes First U.S. State to Launch State-Issued Stablecoin for General Public

Source: Coinspaidmedia Original Title: Wyoming Becomes First U.S. State to Launch State-Issued Stablecoin for General Public Original Link: The state of Wyoming officially launched the first stablecoin in U.S. history issued by a government authority and fully backed by fiat reserves. The new digital asset is already available to private and institutional investors and is seen as a tool for reducing costs and increasing budget revenues.

Wyoming authorities announced the launch of the Frontier Stable Token (FRNT), the first stablecoin in the country issued by a public entity. The project was implemented under the leadership of the Wyoming Stable Token Commission and is the result of nearly a decade of legislative and regulatory preparation.

FRNT is fully backed by U.S. dollars and short-term U.S. Treasuries. All reserves are held in a Wyoming state trust, with asset management handled by investment company Franklin Templeton, which manages more than $1.6 trillion in assets. Custody of the reserves is provided by Franklin Templeton’s subsidiary, Fiduciary Trust Company International.

At the initial stage, the token became available for purchase on the Wyoming-registered crypto exchange Kraken, as well as through the Rain platform, which is integrated with Visa. The initial issuance takes place on Solana, while cross-chain transfers of FRNT are supported via LayerZero and Stargate, making the asset also available on the Ethereum, Arbitrum, Avalanche, Optimism, Polygon, and Base blockchains.

According to Wyoming Governor Mark Gordon, the introduction of the stablecoin will make financial transactions “cheaper, faster, and more transparent,” while also creating an additional source of revenue to fund schools and reduce the tax burden on state residents. Income from investing the reserves in government bonds will flow directly into Wyoming’s budget.

The practical benefits of FRNT were already demonstrated in a pilot program. In particular, Converse County Treasurer Joel Schell noted that in 2024, his office processed about $3.4 million in card payments, paying roughly $70,000 in fees to payment processors. Using a stablecoin, he said, could significantly reduce these costs and return money to taxpayers.

In 2026, state authorities plan to scale the circulation of FRNT and integrate it into government payments and settlements with contractors. The project is viewed not only as a financial instrument but also as a way to improve the efficiency of government operations.

FRNT was effectively launched back in August 2025, but immediately after launch the stablecoin wasn’t available to the general public, as certain regulatory issues remained unresolved.