Wyoming has made its Frontier Stable Token (FRNT) available to the public, marking the first state-issued stablecoin in the United States.
The Wyoming Stable Token Commission selected Franklin Templeton to manage the token’s reserves, with Fiduciary Trust Company International serving as custodian. Franklin Templeton, which manages more than $1.6 trillion in assets, will oversee reserves held in U.S. dollars and short-duration U.S. Treasuries through its fixed income division. While the firm has experience across blockchain and digital assets, its role for FRNT is centered on conventional reserves management.
The commission previously said FRNT would launch across seven blockchain networks, including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana. However, in the initial rollout, the token is accessible only through two intermediary platforms. Kraken offers FRNT on the Solana network, while Rain, a Visa-powered card platform provider, supports FRNT on Avalanche.
Source: Wyoming Stable Token Commission (official release)
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