The Wyoming Stable Token Commission has selected Hedera as the second network for the state’s Frontier Stable Token (FRNT). This marks the first U.S. state-issued stable token moving onto a public blockchain governed by global institutions.
The decision followed the Commission’s Q2 evaluation, where Hedera stood out for its speed, reliability, and compliance with regulatory standards.
FRNT was introduced under the Wyoming Stable Token Act of 2023. The token is fully backed by U.S. dollars and short-term Treasuries, with a two percent reserve buffer. This structure ensures stability while showcasing how digital assets can improve public finance.
Wyoming Stable Token Commission, led by Executive Director Anthony Apollo, created FRNT with the intention to demonstrate responsible innovation. The Commission will demonstrate crypto assets are beneficial for citizens.
Treasury-backed reserve funds will go to the Wyoming School Foundation Program. This will fund education across the state.
Apollo has noted that the goal is not solely technical innovation but also for the public benefit. By using the technology of the blockchain, Wyoming aims for the quick, transparent high-performance networks for payment. FRNT has the potential for reduced friction on the money flows at the state level notes the Commission.
Hedera was selected for the provision of low-cost, fast, and secure settlement. There are up to 10,000 transactions that are potentially capable of fitting in one second. With its carbon-negative architecture with the Hedera Council for governance, long-term resilience is also guaranteed.
The Council comprises global businesses and institutions, bringing trust to its operation. Wyoming’s decision was welcome by Mance Harmon, Hedera’s Co-Founder and Chairman of the Hedera Council. He explained that businesses and governments already depend on Hedera as they expand the use of blockchain.
Wyoming’s initiative points to the areas where blockchain has the ability to provide real-world solutions for public finance. FRNT has already been pilot-trialed for its uses in contractor pay-outs, disaster relief, and payroll disbursement.
Updates on how to buy FRNT with Hedera will follow. Following Wyoming’s lead, other states will have the privilege of watching closely as an accessible token linked to public services proves itself on regulated blockchain networks.
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