The reserves for Wyoming’s FRNT stable token are held in trust by the state and are publicly accountable.
The State of Wyoming has launched its Frontier Stable Token (FRNT), making it the first state-issued stable token in the United States. The token was developed under the leadership of the Wyoming Stable Token Commission and is positioned as a state-backed alternative to privately issued stablecoins, combining state oversight of reserves with blockchain-based settlement.
Wyoming selected Franklin Templeton as its reserves management partner, with Franklin Templeton affiliate Fiduciary Trust Company International serving as custodian. Franklin Templeton will manage FRNT’s reserves through its Fixed Income division.
The reserves are held in trust by the State of Wyoming and are invested exclusively in US dollars and short-duration US Treasuries, with the structure framed around regulation and fiduciary duty.
“By introducing the nation’s first state-issued stable token, we are demonstrating how thoughtful, transparent regulation and new technologies can be harnessed to expand access, lower costs, and strengthen public trust,” said Wyoming Governor Mark Gordon.
A key distinction of FRNT is public accountability and transparent oversight, as the reserves are held in trust by Wyoming rather than governed at the discretion of a sponsoring company.
“Our collaboration with the State of Wyoming demonstrates what’s possible when the public and private sectors work together to create a compliant, trusted framework for digital assets, ” said Jenny Johnson, CEO of Franklin Templeton.
The FRNT token uses LayerZero for cross-chain interoperability and Fireblocks for secure blockchain infrastructure, and is available for purchase via Kraken on the Solana blockchain.
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