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US State of Wyoming Expands Its First Stablecoin Initiative on the Hedera Blockchain

The Frontier Stable Token (FRNT), the first state-issued stablecoin in the U.S., is set to expand to the Hedera blockchain following its August mainnet launch.

This expansion comes after a recent rebound in Hedera's price, which rose from $0.2113 to $0.2136, reflecting a modest recovery of 1.1%.

The Wyoming Stable Token Commission made the decision after a thorough Q2 review, citing Hedera's strong performance, governance, and regulatory compliance as key factors for public finance applications.

FRNT is fully backed by U.S. dollars and short-term Treasuries, with additional reserves aimed at ensuring stability.

According to Anthony Apollo, Executive Director of the Wyoming Stable Token Commission, Hedera's technical advantages made it the only blockchain candidate suitable for the stablecoin.

Hedera’s governance model, involving a council of global institutions, enhances its credibility for real-world applications.

Despite being available across multiple prominent blockchains, FRNT's rollout remains limited, with purchasing options not yet disclosed but anticipated to arrive soon.

This initiative sets a new standard for how states can utilize digital assets to serve public interests, highlighting Wyoming's leadership in digital asset policy.

The interest earned from Treasury holdings tied to FRNT will help support the Wyoming School Foundation Program, linking innovation with educational funding.

Early pilot programs incorporating FRNT have already explored uses in contractor payments and other financial systems.