The State of Wyoming has launched Frontier Stable Token (FRNT), the first stablecoin issued by a US public entity|@LayerZero_Core|X

Wyoming has become the first US state to launch its own stablecoin, the Frontier Stable Token (FRNT), marking a new chapter in state-led crypto innovation.

The Wyoming Stable Token Commission, along with LayerZero, will issue the FRNT tokens. It is pegged one-for-one to the value of the US dollar and backed by cash and Treasuries.

The token will operate on seven blockchains, including Ethereum, Solana and Polygon, and will first be available via Wyoming-based exchange Kraken.

Wyoming has been building toward this moment for nearly a decade, passing more than 45 crypto-friendly laws and creating a special banking charter to woo digital asset firms.

Timing is key
The launch comes after Congress passed the GENIUS Act, the first federal stablecoin law. While it regulates private stablecoins, it may not cover state-issued ones, giving Wyoming extra leeway.

The Cowboy State officials have pledged that interest generated by the reserves backing FRNT will go towards funding public schools.

Other states like Nebraska and Texas are also eyeing their stablecoins.