this post was submitted on 20 Aug 2025
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Wyoming launches first state-backed stablecoin on seven blockchains (www.theblock.co)
submitted 2 days ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
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After years of research, the Wyoming Stable Token Commission has unveiled the mainnet launch of its first official state-backed stablecoin. The so-called Frontier Stable Token (FRNT), marking the first time a U.S. state has issued a blockchain-based, fiat-pegged token meant to be used by retail and enterprises alike, according to an announcement on Tuesday.

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[โ€“] treadful@lemmy.zip 17 points 2 days ago (1 children)

The Frontier Stable Token is overcollateralized by cash and short-term U.S. Treasurys, holding a minimum reserve of 102% to ensure stability at Franklin Advisers.

Wonder how long this will last until we start the fracturing of US currency at the state level again. That'd get pretty turbulent.

[โ€“] pdxfed@lemmy.world 1 points 1 day ago

It be turbulent if you were in Wyoming and trying to compete against the stable coin of say...California. wonder which one most investors would choose?