[Coin World] On September 4, the Wyoming Stablecoin Committee announced in its last committee meeting that the first stablecoin issued by a state government in the United States, Frontier Stable Token (FRNT), is about to be launched on a certain blockchain platform. In the committee's second quarter assessment, this blockchain platform was selected as the sole candidate for FRNT due to its compliance with strict standards in speed, reliability, and compliance. FRNT is the first stablecoin issued by a state in the United States created under the 2023 Wyoming Stablecoin Act. The token is fully backed by U.S. dollars and short-term government bonds, with an additional 2% reserve to ensure stability. The design of FRNT aims to demonstrate how digital assets can enhance public finance by enabling faster, more transparent, and more efficient payments.
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The Wyoming state government's stablecoin FRNT is about to launch, fully backed by USD with an additional 2% reserve.
[Coin World] On September 4, the Wyoming Stablecoin Committee announced in its last committee meeting that the first stablecoin issued by a state government in the United States, Frontier Stable Token (FRNT), is about to be launched on a certain blockchain platform. In the committee's second quarter assessment, this blockchain platform was selected as the sole candidate for FRNT due to its compliance with strict standards in speed, reliability, and compliance. FRNT is the first stablecoin issued by a state in the United States created under the 2023 Wyoming Stablecoin Act. The token is fully backed by U.S. dollars and short-term government bonds, with an additional 2% reserve to ensure stability. The design of FRNT aims to demonstrate how digital assets can enhance public finance by enabling faster, more transparent, and more efficient payments.