The Wyoming Frontier Stable Token, a dollar-pegged asset issued by the state, has been publicly launched on the Solana blockchain.
This marks the first official launch of a stablecoin issued by a state in the United States.
In a statement, Wyoming authorities said the token, known as FRNT, was designed by the Wyoming Stable Token Commission.
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They described it as a milestone in financial innovation, merging state oversight with the efficiency of blockchain technology.
The project follows in the footsteps of major institutional experiments with blockchain-based value transfer. For example, J.P. Morgan Chase, the largest bank in the United States by assets, has its own dollar-pegged deposit token that operates on other networks.