Wyoming introduces state backed stablecoin on 7 blockchains – The Frontier Stable Token (FRNT) is Wyoming’s state-issued stablecoin. Launched in August 2025, FRNT is a fiat-backed digital token fully backed by U.S. dollars and short-term Treasury bills. The Wyoming Stable Token Commission or WST (created by a 2023 law) oversees FRNT’s issuance. The state requires all FRNT tokens to be backed by actual dollars in a trust, plus an extra 2% overcollateralization (i.e. at least $1.02 in reserve per $1 issued). Wyoming has contracted financial firms to manage these reserves. For example, Franklin Advisers (a subsidiary of Franklin Templeton) is handling the cash and Treasuries that back FRNT. Independent audits and blockchain attestations will verify the reserves regularly. Therefore, FRNT is not a speculative crypto asset, it is a stable token tied to the U.S. dollar by law. This makes Wyoming’s token more like a state-authorized digital dollar than a volatile cryptocurrency