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WE-Launch
The stablecoin FRNT issued by the state of Wyoming is about to go live on Hedera
BlockBeats News, September 4th, the Wyoming Stablecoin Committee announced during a committee meeting that the United States' first state government-issued stablecoin, the Frontier Stable Token (FRNT), is set to launch on Hedera. In the committee's second-quarter assessment, Hedera was chosen as the sole candidate blockchain for FRNT, due to its strict standards in speed, reliability, and compliance.
FRNT is the first stablecoin created under the "2023 Wyoming Stablecoin Act." This is the first stablecoin issued by a U.S. state government. The token is fully backed by the U.S. dollar and short-term government bonds, with an additional 2% reserve to ensure stability. FRNT's design aims to showcase how digital assets can enhance public finance by enabling faster, more transparent, and more efficient payments.
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