Wyoming has successfully deployed 700,000 FRNT stablecoins across seven major blockchains, including Solana, Ethereum, and Avalanche, as part of a testing phase. This initiative, which began in August, aims to enhance accessibility and resilience by distributing 100,000 tokens to each blockchain. The FRNT stablecoin is fully backed by U.S. dollars and short-duration Treasuries, with a legal requirement for 2% overcollateralization. The state-issued stablecoin channels yield from its reserves into Wyoming’s education fund. Despite the technical deployment being complete, public access to FRNT has been delayed due to regulatory challenges. This deployment marks a significant step in Wyoming's efforts to integrate blockchain technology into its financial infrastructure.
Wyoming Deploys 700,000 FRNT Stablecoins Across Seven Blockchains
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