Wyoming has captured attention of the crypto industry with the expansion of its Frontier Stable Token (FRNT) onto the Hedera network.
FRNT, introduced under the 2023 Wyoming Stable Token Act, is the first fully state-issued stablecoin in the US, fully backed by USD and short-term Treasury securities.
FRNT was deployed across major blockchains, including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base. Now, Hedera Hashgraph has entered the mix.
Following a mid-year evaluation, the Wyoming Stable Token Commission selected Hedera as the first additional blockchain for FRNT.
Hedera was chosen for its strong alignment with the state’s priorities, offering rapid transaction settlement, predictable low fees, enterprise governance, and the ability to handle up to 10,000 transactions per second.
The Hedera Council, which includes global institutions, ensures transparency and long-term stability for the network, making firms more trusting of HBAR.
Backed by the Hedera Council makes Hedera is uniquely suitable for regulated, public-sector applications.
Hedera’s selection for FRNT highlights the technical capabilities of HBAR and its readiness for institutional-grade blockchain applications, well-prepared for mass stablecoin applications.
The inclusion of FRNT on Hedera also lays the groundwork for broader tokenized use cases. Pilots of FRNT include payments to contractors, emergency disbursements, and payroll transactions, demonstrating HBAR’s ability to support applications of stablecoins within government operations.
Wyoming’s acknowledgment may encourage further adoption by enterprises and central banks exploring digital currencies.
While the announcement of FRNT on Hedera has been a milestone, the addition opens up questions about how Hedera can continue to be chosen by high-profile firms or to host high-profile government projects.
Success in Wyoming may serve as a model for other states or public institutions considering stablecoins, then possibly securing Hedera’s role in regulated stablecoin issuance.
The growth of FRNT may also encourage enterprise use of Hedera’s Stablecoin Studio, a platform that allows users to create and manage their own stablecoins.
Wyoming’s decision to expand FRNT onto Hedera is industry proof that industries are watching and are aware of Hedera’s use cases and how they can be applied in real-world situations.
The post Why Was Hedera Selected to Host the Wyoming Frontier Stablecoin? first appeared on AllinCrypto.
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