FRNT is designed to provide public accountability, transparent oversight, and alignment with the rule of law, contrasting with privately issued stablecoins.

Governor Mark Gordon and Franklin Templeton executives emphasize public accountability, regulatory alignment, and public-private collaboration to modernize financial infrastructure.

Backers expect FRNT to diversify state revenue and improve government efficiency by lowering electronic payment processing costs for constituents.

The Wyoming Stable Token Commission will meet on January 15 to discuss FRNT’s development, with options for in-person or online attendance.

The project followed a 2023 study and a multi-blockchain review, ultimately selecting Solana after testing 11 blockchains.

The initiative seeks to expand access, reduce costs, and strengthen public trust by combining state governance with blockchain technology, intended for Wyoming residents, retail investors, institutions, and governments globally.

Investor-facing disclosures outline risks related to issuance, redemption, transfer, custody, and record-keeping of blockchain-based tokens.

Wyoming launches the Frontier Stable Token (FRNT), the first state-issued stablecoin in the United States, under the Wyoming Stable Token Act with oversight from the Wyoming Stable Token Commission.

Franklin Templeton serves as reserves manager and Fiduciary Trust Company International as custodian, providing institutional oversight and blockchain expertise for FRNT.

FRNT reserves are held in trust by the state and invested exclusively in U.S. dollars and short-duration U.S. Treasuries, managed by Franklin Templeton’s Fixed Income division with Fiduciary Trust as custodian.

Converse County Treasurer Joel Schell notes significantly lower transfer fees, roughly one cent per transaction, addressing higher costs from credit card processing in local government.

The commission conducts quarterly assessments of new blockchains for potential FRNT deployment, signaling ongoing expansion and governance efforts.