The state of Wyoming has officially launched $FRNT (Frontier Stable Token), making it the first and only state-issued stable token available to the public in the United States, developed under the leadership of the Wyoming Stable Token Commission and with Franklin Templeton as its reserves management partner.
Designed under the leadership of the Wyoming Stable Token Commission, the Frontier Stable Token ($FRNT) is presented as a milestone in financial innovation, combining the security and oversight of state-managed reserves with the efficiency and transparency of blockchain technology.
To meet institutional standards, Wyoming has selected Franklin Templeton as its reserves management partner, with its affiliate Fiduciary Trust Company International serving as custodian. Franklin Templeton, which manages over $1.6 trillion in assets, contributes its global scale and blockchain expertise to Wyoming’s initiative.
Wyoming Governor Mark Gordon stated, “Wyoming has long been at the forefront of financial innovation, and the launch of $FRNT marks a defining moment in our state’s continued leadership. 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. We’re proud to partner with Franklin Templeton — a firm that understands both the rigor of institutional finance and the transformative potential of digital assets.”
In contrast to privately issued stablecoins, which rely on the governance and discretion of sponsoring companies, a state-issued stable token like $FRNT offers public accountability, transparent oversight, and direct alignment with the rule of law. All $FRNT reserves are held in trust by the State of Wyoming, invested exclusively in U.
S. dollars and short-duration U.
S. Treasuries managed by Franklin Templeton’s Fixed Income division, providing a structure based on regulation and fiduciary duty.
Jenny Johnson, CEO of Franklin Templeton, commented, “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. Franklin Templeton’s deep expertise across fixed income, custody, and digital assets uniquely positions our firm to help governments and institutions modernize financial infrastructure.”
$FRNT’s issuance and operations utilize LayerZero for cross-chain interoperability and Fireblocks for secure blockchain infrastructure. The stable token is now available for purchase via Kraken on the Solana blockchain and through Rain, the Visa-powered integrated card platform, on the Avalanche blockchain.
$FRNT offers instant settlement and low transaction costs, with the capability to be sent globally, providing utility to retail investors, institutions, and governments.
Sandy Kaul, EVP and Head of Innovation at Franklin Templeton, added, “Wyoming’s leadership in launching $FRNT underscores the power of public innovation supported by institutional trust. We are thrilled to support this landmark program, which showcases how blockchain and traditional finance can coexist to build more inclusive, efficient, and transparent financial systems.”
The Wyoming Stable Token Commission, established in March 2023 under the Wyoming Stable Token Act, is tasked with issuing fully-backed stable tokens that adhere to state laws and fiscal responsibility. Its mission is to enhance financial transparency and drive economic growth through blockchain innovation.
