Wyoming Tests FRNT Stablecoin Across Seven Blockchains in Multi-Chain Initiative

Wyoming Tests FRNT Stablecoin Across Seven Blockchains in Multi-Chain Initiative

Wyoming has launched a testing initiative involving the deployment of 100,000 FRNT stablecoins across seven prominent blockchains, marking a significant step toward accessible blockchain solutions. This first-ever state-issued stablecoin in the U.S. aims to bolster the state’s education fund, with the full backing of U.S. dollars and U.S. Treasury securities. Despite the technical rollout being complete, public availability faces regulatory delays.

Key Takeaways

Wyoming has distributed 100,000 FRNT stablecoins across seven blockchains, totaling 700,000 tokens.
FRNT is the first state-issued stablecoin in the United States and is designed to support Wyoming’s education fund.
The token is fully backed by U.S. dollars, with mandated overcollateralization for stability.
While the technical deployment is finished, public access is delayed due to regulatory issues.
Traditional banks are increasingly launching stablecoin initiatives, indicating a shift in the financial landscape.

Wyoming's Multi-Chain Initiative

As part of its efforts to innovate, Wyoming has deployed 100,000 FRNT stablecoins on seven major blockchains as of October 20. This totals 700,000 tokens distributed among Solana, Ethereum, Arbitrum, Base, Optimism, Polygon, and Avalanche C-Chain. This step is part of a testing phase following the Frontier Stable Token's mainnet launch in August, which is recognized as the first state-issued stablecoin in the U.S.

The structure of FRNT allows yield generated from its reserve assets to flow directly into Wyoming's education fund. Governor Mark Gordon described this as a “modern revenue stream for public services.”

FRNT Supply | Source: Dune

Testing of Multi-Chain Infrastructure

Each selected blockchain received an equal share of 100,000 FRNT tokens, reflecting Wyoming’s objective to enhance accessibility through multi-chain deployment, a goal emphasized since the token's emergence in August.

“FRNT demonstrates that governments can innovate, not just regulate," commented Anthony Apollo, Executive Director of the Wyoming Stable Token Commission.

FRNT Mint/Burn by Chain | Source: Dune

FRNT is backed entirely by U.S. dollars and short-term U.S. Treasuries held in trust. Wyoming law ensures a 2% overcollateralization to maintain stability beyond conventional stablecoin reserves. The token's architecture features monthly financial attestations and audits conducted by The Network Firm, while reserves are overseen by Franklin Advisers.

Timeline for Public Rollout Still Uncertain

Initially, Wyoming planned to release FRNT to the public via Kraken, a local exchange, beginning with the Solana blockchain. However, regulatory challenges have hindered public access even after the technical deployment.

“It might take us some time to progress,” Apollo conveyed in a previous presentation, also indicating there may be beta testing and compliance framework adjustments required.

Frontier FRNT Holders | Source: Dune

Wyoming had a successful pilot of FRNT in July in collaboration with Hashfire on Avalanche, which significantly reduced government contractor payment times from 45 days to just a few seconds.

Banks Accelerate Stablecoin Initiatives

As Wyoming tests FRNT, traditional banks are ramping up their own stablecoin projects, particularly following recent regulatory clarity in the U.S. and Europe. Notably, nine major Wall Street banks, including Goldman Sachs and Citigroup, announced plans in October to create a G7-backed stablecoin, posing competition to established players like Tether and Circle.

Japanese mega-banks such as Mitsubishi UFJ and Mizuho are also moving ahead with yen and dollar-pegged stablecoins, aiming to issue 1 trillion yen worth of tokens over the next three years. In South Korea, financial regulators are preparing to introduce legislation for won-backed stablecoins this month.

The stablecoin market has surged to approximately $309 billion as of October 2025, reflecting a staggering growth rate of 6,000% since December 2019, according to Defillama data. Citigroup has adjusted its forecast for stablecoin issuance to project $1.9 trillion in its base case and $4 trillion in a bullish scenario by 2030, driven by robust market demand.

Looking ahead, the Wyoming Stable Token Commission has yet to announce plans for expanding FRNT beyond its current deployment setup. “Market dynamics will help define the use cases,” remarked Joel Revill, CEO of Two Ocean Trust and a member of the Wyoming Stable Token Commission. Monthly transparency reports and audit outcomes are expected to ensure ongoing verification of the token’s reserves and compliance.