Wyoming Launches Frontier Stable Token, First State-Issued Cryptocurrency in the U.S.
CHEYENNE, Wyo. — In a historic move positioning itself at the forefront of digital finance, Wyoming has become the first U.S. state to launch a government-backed cryptocurrency. On August 19, 2025, the Wyoming Stable Token Commission officially unveiled the Frontier Stable Token (FRNT), a blockchain-based stablecoin pegged to the U.S. dollar.
Stablecoins are digital currencies designed to maintain a stable value by being backed by tangible assets, often fiat currencies like the dollar. Frontier Stable Token is fully backed by U.S. dollars and short-duration U.S. Treasuries, held in trust to benefit token holders. Additionally, the token is legislatively required to maintain a 2% overcollateralization, further securing its stability.
Governor Mark Gordon, who chairs the Wyoming Stable Token Commission, celebrated the launch as a continuation of the state’s pioneering role in blockchain and cryptocurrency innovation. “For years, Wyoming has been the leading state on blockchain, cryptocurrency and digital asset regulation, passing over 45 pieces of legislation since 2016,” Gordon stated. “Today, Wyoming reaffirms its commitment to financial innovation and consumer protection. The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient and secure means of transacting in the digital age.”
The Frontier Stable Token operates across seven major blockchain networks, including Ethereum, Solana, Avalanche, Arbitrum, Base, Optimism, and Polygon. This multi-chain approach ensures broad accessibility and interoperability. Soon, FRNT will be available for public purchase on platforms such as the Wyoming-domiciled Kraken exchange on Solana and Rain’s Visa-integrated card platform on Avalanche, with official announcements forthcoming from the Governor’s Office and the Stable Token Commission.
Unlike traditional private stablecoins, which are typically issued by commercial entities, FRNT is a product of public sector innovation, backed by the state’s government. This development may allow the token to sidestep some federal regulatory oversight that applies to private companies, an advantage highlighted by experts in the wake of the recently enacted GENIUS Act, which regulates stablecoin businesses but may exempt state governments.
Wyoming officials envision diverse applications for the token, including brokering public-private contracts — for example, energy agreements — and facilitating everyday digital payments, like buying coffee. The project also carries a public service dimension: interest generated by the cash reserves backing FRNT is pledged to support public school funding, providing a direct community benefit.
The timing of the launch coincided with the annual Wyoming Blockchain Symposium 2025 held in Jackson Hole, which attracted industry leaders, influential crypto figures including Eric Trump, and economists ahead of the 48th annual Jackson Hole Economic Symposium. The event underscores Wyoming’s rising prominence as a hub for blockchain and digital currency innovation.
Experts note that Wyoming’s $5.8 million state budget allocation to the Stable Token Commission since its creation in 2023 signals serious commitment to this digital currency initiative. The launch of FRNT marks a significant development in government fintech, potentially setting a precedent for other states and public bodies exploring blockchain’s possibilities.
While the exact long-term goals and wide-scale adoption of FRNT remain to be seen, Wyoming’s entry into state-issued digital currencies represents a historic milestone in U.S. financial innovation, blending regulatory foresight with technological advancement.