Summary
- The U.S. state of Wyoming said it will launch the state-issued Solana (SOL)-based stablecoin FRNT on January 10.
- FRNT is the first dollar-pegged stablecoin directly issued by a U.S. state government and is said to have a clear legal-based supervisory framework.
- FRNT is designed to prioritize transparency and stability through an overcollateralized issuance method and reserve assets composed of U.S. dollars and short-term Treasuries.
On the 7th (local time), according to virtual asset (cryptocurrency) specialist media The Block, the U.S. state of Wyoming will launch the state-issued Solana (SOL)-based Frontier Stable Token (FRNT) on January 10 (local time).
According to the outlet, FRNT will be issued on an overcollateralized basis, and the reserves will be kept in a Wyoming-based trust.
The reserve assets consist only of U.S. dollars and short-term U.S. Treasuries, and were designed with transparency and stability as top priorities. Wyoming has been a state that has actively pursued digital-asset-friendly policies, and this FRNT launch is seen as a case of elevating public-sector blockchain use to the next level.
Meanwhile, FRNT was originally scheduled to launch on January 8, but due to some technical issues the schedule was delayed by two days and the official launch was confirmed for January 10.
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