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Wyoming Issues FRNT Stablecoin Pegged 1:1 to USD, Becomes First U.S. State to Launch State-Level Crypto

Token Events Partnerships & Ecosystem Geopolitics

2026-06-16 09:54:06

According to Bloomberg, Wyoming issued its Frontier Stable Token (FRNT) on June 16, becoming the first U.S. state to launch a stablecoin pegged 1:1 to the U.S. dollar. The token currently has a circulating supply of approximately 1 million FRNT. The stablecoin is operated by Wyoming's Stable Coin Committee and backed by cash and U.S. Treasury securities. After covering development costs and establishing a 2% reserve fund, interest from Treasury holdings will fund local public schools. Kraken provides trading and custody services for FRNT.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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