Wyoming State announced on Tuesday the Mainnet launch of its US dollar stableecoin frontier stable token (Frnt)It claims that it was the first fully reserved stableecoin in the country issued by a public entity.
“The mainnet -launch of Frontier -Stable token will strengthen our citizens and businesses with a modern, effective and safe means of acting in the digital age,” said Mark Gordon, Governor of Wyoming and President of Wyoming Stable Token Commission, in a statement.
The token has already been deployed on terms
Avalanche, base, ethereum, optimism, polygon (Pole)And Solana Networks shows Blockchain data on the project’s website. The token is designed to be 2% over -collateralized, backed by US dollars and US treasuries held in trust.
The token will be available to the wider public in the coming days at Solana through Wyoming-Domiciled Exchange Kraken and Rain’s Visa-Integrated Card Platform on Avalanche Blockchain, the press release said.
The message that coincided with the Wyoming Blockchain Symposium conference in Jackson Hole, Wyoming, follows the United States that adopts federal laws with the brilliant act to regulate the rapidly growing stableecoin sector and issuers.
StableCeCoins are a $ 260 billion -dollar class Cryptocurrencies with awards linked to an external asset like the US dollar. They could become a trillion dollar market in the next few years and interfere with payments as the adoption of the real economy is expanded, crypto -trading company Keyrock projected in a recent report.
Wyoming, who became known for its forward attitude towards blockchain legislation, created Wyoming Stable Token Commission in 2023 to develop and issue an US dollar-backed token and oversee his integration into public finances. Last month, the state conducted a test transaction for the real-time government contract payment on the snow-based hashfire.
The Commission has collaborated with Layerzero for Token Issuing, Fireblocks for Blockchain Infrastructure, Franklin Advisers for Reserve Management, Inca Digital for Open Source Intelligence and the Network Company for Revisions and Monthly Certifications, all selected through a purchasing process, the press release said.
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