- The state of Wyoming has become the first U.S. state to issue its fiat-backed stablecoin.
- The Frontier Stable Token (FRNT) will operate on Solana but be interoperable with more chains via Stargate Finance.
- Franklin Templeton has helped the state of Wyoming launch the FRNT legally.
Wyoming has made history as the first U.S. state to launch a stablecoin dubbed the Frontier Stable Token ($FRNT). Under the stewardship of Governor Mark Gordon and Senator Cynthia Lummis, the Wyoming Stable Token Commission launched FRNT stablecoin on several chains for public use.
Wyoming’s FRNT Debuts on Three Major Web3 Ecosystems
The state of Wyoming has launched its FRNT Stablecoin on the Solana (SOL) blockchain through the Kraken exchange. According to the announcement, the FRNT is also available on other chains supported by Starget Finance.
Some of the enabled multichain routes for FRNT include Ethereum (ETH), Coinbase-backed Base, Arbitrum (ARB), Optimism (OP), Avalanche (AVAX), and Polygon (POL). The state of Wyoming intends to use the interest from the reserves to benefit its school programs in a bid to ease taxation on residents.
“By introducing the nation’s first state-issued stable token, we are demonstrating how thoughtful, transparent regulation and new technologies can be harnessed to expand access, lower costs, and strengthen public trust,” Gordon stated.
Franklin Templeton’s Role
The state of Wyoming partnered with Franklin Templeton to facilitate a seamless adoption of The Frontier stablecoin. According to the announcement, Franklin Templeton will help manage the FRNT reserves to ensure institutional standards.
Additionally, the state of Wyoming will work with Franklin Templeton affiliate Fiduciary Trust Company International for custodian services. With over $1.6 trillion in assets under management, Franklin Templeton has ventured into the web3 space including the Bitcoin and Ethereum spot exchange-traded funds (ETFs).
According to Jenny Johnson, CEO of Franklin Templeton, the company will provide deep expertise across fixed, custody, and digital assets. Sandy Kaul, EVP and Head of Innovation at Franklin Templeton, stated that the FRNT Stablecoin is an embodiment of public innovation backed by institutional trust.
Moreover, Franklin Templeton is regulated at the federal level and remains compliant under the Genius Act, launched in 2025 to foster stablecoin development.
Related: Lummis Announces RFIA of 2026 That Differentiates Securities And Commodities
What’s Next
The state of Wyoming intends to scale the mainstream adoption of FRNT through real-world utility. The Wyoming Stable Token Commission stated that it intends to onboard new partners in 2026 to catalyze public sale for FRNT.
The state of Wyoming intends to seamlessly weave the FRNT stablecoin through local agencies. Furthermore, the use of Solana and top-layer two scaling solutions on Ethereum will help the Wyoming agencies save on transaction fees.
“Last year my office took in about $3.4 million in credit card transactions, which cost our constituents about $70,000 in fees that our processors collected,” Joel Schell, Converse County Treasurer, stated.
Related: Wyoming Debuts FRNT, the First U.S. State-Issued Stablecoin
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