The Wyoming Stable Token Commission is the first US public entity to launch a stablecoin. Frontier Stable Token (FRNT) has chosen Solana, which is currently leading the tokenization competition.
The Wyoming Stable Token Commission announced the trading launch of the Frontier Stable Token (FRNT). The asset is the first to make use of the GENIUS bill and create a stablecoin launched by a public entity. The token was first announced in August 2025, but has now started its trading history. FRNT is yet to establish its supply and spread to more wallets and trading venues.
The FRNT stablecoin will accrue interest from its reserves, which will benefit the Wyoming school program. Interest will not be shared with token holders, who can only use the asset for P2P transfers. The new stablecoin will trade through the Wyoming-domiciled Kraken exchange, which will offer the Solana version of the token.
FRNT can also be acquired through the VISA-affiliated platform Rain, which will carry the Avalanche version.
FRNT is an asset-backed stablecoin that uses USD fiat reserves as its backing. The asset is thus fully compliant and will also use its reserve to accrue interest. FRNT does not use the bond-backed stablecoin model, which was adopted by the leading stablecoin, USDT.
FRNT to launch as a multi-chain stablecoin
FRNT can also be bridged through Stargate to be used on Avalanche, Base, Arbitrum, Ethereum, Optimism, and Polygon. The Commission will audit new candidate blockchains each quarter to expand the presence of FRNT.
The official FRNT page claims the stablecoin can be acquired and used by anyone in the world, limited only by Kraken’s exclusion list of countries and regions.
The Wyoming Stable Token Commission will not directly sell the asset. Instead, FRNT will be distributed through a network of resellers, which will screen buyers on their side. The token is supported on Phantom, Binance Web3 Wallet, Backpack Wallet, and Solflare. Trading has already started on a Kraken Pro pair against USD.
FRNT joins the growing pool of stablecoins, with over $314B in total market capitalization. Stablecoin issuers are constantly creating new tokens, fighting the challenges of fragmented liquidity and real demand. Right after launching, FRNT still had only a handful of holders.
Franklin Templeton to control state-backed reserves
The fiat reserves behind FRNT will be handled by Franklin Templeton, already one of the experts in tokenization.
‘The collaboration with the State of Wyoming demonstrates what’s possible when the public and private sectors work together to create a compliant, trusted framework for digital assets,’ said Jenny Johnson, CEO of Franklin Templeton.
The new token will expand with government and holder oversight, with full transparency on new mints, unlike existing public chain tokens. The Wyoming Stable Token Commission was established in March 2023, finally completing its task to launch a stablecoin in line with the state’s fiscal policy.
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