Wyoming Launches a State-backed Stablecoin

Think of a digital dollar that’s officially backed by a state government. That’s what Wyoming just created. It’s called the Frontier Stable Token, or FRNT for short.

Unlike cryptocurrencies like Bitcoin that change value wildly, FRNT is a “stablecoin,” meaning its value is fixed to the US dollar. You can use it on seven different blockchain networks to send money quickly and with low fees. Wyoming officials say it’s designed for everyone, from regular people to big companies, to use around the world.

Wyoming has been a leader in making rules for crypto companies for years. This big step puts it ahead of every other state and comes just after new national rules for stablecoins were signed into law.