0
0
News

Wyoming Becomes First U.S. State to Issue Stablecoin

The state's Frontier Stable Token (FRNT) is now available through Kraken.
0
0
Jan 7, 2026 • 1 min read

The "Frontier Stable Token" is now publicly available on crypto exchange Kraken, trading under the ticker symbol FRNT, making Wyoming the first state to issue a blockchain-based stablecoin.

What's the Scoop?

  • Now Public: According to a press release from Wyoming Governor Mark Gordon, the Frontier Stable Token (FRNT) is now publicly available on Kraken, a Wyoming-domiciled cryptocurrency exchange and Special Purpose Depository Institution.
  • Multichain Presence: The FRNT token is currently supported on the multiple networks, including the Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana blockchains. Cross-chain bridging services are provided by Stargate Finance.
  • Commission Model: FRNT tokens are issued by the Wyoming Stable Token Commission, an entity established in March 2023 under the Wyoming Stable Token Act that is tasked with issuing fully-backed stablecoins in a manner that that aligns with state laws and fiscal responsibility.
  • Safe Reserves: FRNT is more than 1:1 backed by U.S. dollars and short-duration U.S. Treasuries, with a legislatively mandated 2% minimum overcollateralization target. All earned interest income is returned to the State.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.