​The Frontier Stable Token (FRNT) is the first US state-issued stablecoin, launched by Wyoming and made publicly available on January 7, 2026. It is pegged to the dollar at $1.00, backed by US dollars and short-duration Treasuries with a legally mandated 102% reserve ratio, managed by Franklin Templeton, and live on seven blockchains via LayerZero.

FRNT is issued by the State of Wyoming through the Wyoming Stable Token Commission, a public body created by the Wyoming Stable Token Act. The token is dollar-pegged, redeemable at par, and structured to channel reserve-asset interest income to Wyoming's general fund and school foundation rather than to token holders. It is the first stablecoin issued by a US state government rather than by a private company or bank.
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FRNT's backing is the cleanest part of the design:

This structure is closer to a money-market-fund operating model than to a typical fintech-issued stablecoin. The reserves do not sit on the issuer's balance sheet; they sit in a state trust managed by a regulated asset manager.
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FRNT mints and burns at $1.00. The Stable Token Commission contracts with authorized distributors who handle KYC and customer onboarding; eligible users buy FRNT at par and redeem at par, with reserve assets adjusting accordingly. Specific redemption settlement windows and KYC tiering are set by the authorized distributor.
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Two design choices matter for operators:

FRNT launched simultaneously on seven blockchains via LayerZero's Omnichain Fungible Token (OFT) standard:

The OFT model means FRNT is not a wrapped or bridged token on six of those chains. It is the same token, with supply unified across chains via LayerZero messaging. From a treasury-accounting perspective, a balance held on Arbitrum is the same instrument as a balance held on Ethereum mainnet.
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For operators evaluating FRNT for cross-chain settlement, the practical implication is that you can take FRNT in on one chain and pay out on another without an explicit bridge step. The interoperability is at the token level, not the application level.

FRNT competes with USDC, USDT, PYUSD, and the bank-issued stablecoins that have launched under GENIUS Act authority. Its differentiators are narrow but real:

What FRNT does NOT offer that private issuers do: scale (USDC and USDT dwarf FRNT supply), holder yield (statutorily prohibited), and the integration depth that comes with eight years of USDC tooling.
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FRNT operates under Wyoming state law via the Stable Token Act. The federal layer is GENIUS Act, signed July 2025, which establishes the payment-stablecoin framework for the US. The Stable Token Commission has been working through the interaction between state authority and the federal framework since GENIUS passage, with the path for federal-level recognition of state-issued tokens still being defined by Treasury and the prudential regulators.
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For operators outside Wyoming, the practical question is whether FRNT can be held, sent, and received in your jurisdiction. The answer in most US states is yes, subject to the distributor's KYC.

FRNT's design fits three operator use cases particularly well:

FRNT is a small, well-engineered stablecoin with an unusual issuer. Its design is conservative, its backing is real, and its multichain footprint is native rather than bridged. For operators who want a stablecoin with sovereign-grade reserve structure and statutory over-collateralization, FRNT is the only option on the US market today. It will not replace USDC at scale, and it is not trying to. It is trying to be the cleanest dollar-pegged instrument a state government can produce, and on that narrow metric it has delivered.
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