Wyoming stablecoin FRNT has officially launched on Kraken and is now available for public purchase.
TL;DR
Wyoming's Frontier Stable Token (FRNT), the first U.S. public-issued stablecoin, is now available on Kraken. Backed 1:1 by fiat, it supports cross-chain use and funds school projects, with plans to expand applications by 2026.
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Odaily Odaily reports that the Wyoming Stable Token Commission has announced that its Frontier Stable Token (FRNT) is now officially available for public purchase through Kraken, a Wyoming-based cryptocurrency exchange. The Commission stated that FRNT is the first stablecoin in the United States issued by a public entity, backed 1:1 by fiat currency, and fully reserved. The interest earned from these reserves will be used to support school projects in Wyoming as a public good and to explore ways to diversify fiscal revenue.
According to official information, FRNT has been deployed on the Solana blockchain and can be connected to networks such as Arbitrum, Avalanche, Base, Ethereum, Optimism, and Polygon through cross-chain infrastructure. FRNT is primarily used for peer-to-peer USD-denominated payments, featuring near-instantaneous settlement, low fees, strong auditability, and reduced counterparty risk, making it suitable for both retail and institutional scenarios. The committee also stated that it plans to further expand FRNT's application scope in 2026, introducing more partners and deploying related payment and settlement scenarios within state government agencies.