Wyoming has released the Frontier Stable Token for public purchase on Kraken, backed by U.S. dollars and Treasury securities with 102% collateralization.
Wyoming has become the first U.S. state to launch a government-backed stablecoin, releasing the Frontier Stable Token (FRNT) for public purchase on January 7, 2026.
The Wyoming Stable Token Commission released FRNT for public trading on Kraken, a Wyoming-domiciled cryptocurrency exchange. The stablecoin launched initially on Solana, with multi-chain support through Stargate enabling transfers across Ethereum, Arbitrum, Avalanche, Base, Optimism, and Polygon.
FRNT is fully backed by U.S. dollars and short-term Treasury securities, with Wyoming law requiring 102% over-collateralization. Franklin Templeton manages the reserves, while Fiduciary Trust Company International serves as custodian. The state allocated approximately $6 million toward the project development.
This marks a milestone in how state governments can engage with blockchain technology. Unlike private stablecoins such as USDT or USDC, FRNT's interest income flows directly to Wyoming's School Foundation Program rather than to private issuers. This creates a new public revenue stream without raising taxes.
The launch provides a government-backed alternative in the $300 billion stablecoin market. Wyoming officials cited reducing annual card processing fees, which cost the state tens of thousands of dollars, as an operational benefit. The token currently offers no yield to holders due to regulatory uncertainty around interest-bearing digital assets.
The Wyoming Stable Token Commission has scheduled its next meeting for January 15 to review early progress. Initial trading volumes remain limited, typical for a new government-backed token. The multi-chain availability through Stargate may drive adoption as users gain access across seven blockchain networks. Other states may look to Wyoming's model as a template for their own digital asset initiatives.
Wyoming's FRNT represents a new approach to stablecoin issuance, with state backing and public benefit requirements. The situation continues to develop as regulators and markets assess this first-of-its-kind launch.
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