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Wyoming's FRNT stablecoin launches on January 7 as first US state-backed digital dollar
Wyoming has introduced the Frontier Stable Token (FRNT), described as the first stablecoin issued and backed by a US state government. The dollar-pegged token, which went live on January 7 and initially trades on Kraken via Solana, is fully collateralized by cash, cash equivalents, and short-term US Treasuries managed by Franklin Templeton. Interest from the reserves is directed to Wyoming public schools instead of FRNT holders, and state officials are testing its use for government payments amid ongoing federal regulatory uncertainty.