Wyoming’s Frontier Stable Token (FRNT), the pioneering stable token launched by a US state, has officially gone live on the Hedera network. This significant development marks FRNT’s integration into a total of eight blockchain platforms, joining existing deployments on notable networks including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.
Mance Harmon, co-founder of Hedera, emphasized the critical nature of trust in the digital payment landscape. He stated that Hedera’s infrastructure offers the reliability essential for regulated industries to innovate. “At the core of all this is trust,” Harmon said, underscoring that the technology from Hedera provides a secure foundation that allows regulated sectors to explore new payment solutions confidently.
FRNT was first introduced in August and is designed to function as a dollar-backed digital asset, aimed at facilitating faster and more efficient payment systems. Importantly, it also focuses on transparency and accountability as it operates as a public-sector financial instrument.
Anthony Apollo, the executive director of the Wyoming Stable Token Commission, expressed that the launch underscores Hedera’s increasing influence in real-world asset innovation and the application of blockchain in regulated environments. Apollo remarked, “Hedera has emerged as a leader in real-world asset innovation, with the governance and performance needed for regulated use cases.”
Key to FRNT’s stability is its requirement for 102% collateralization, which is backed by short-term U.S. Treasuries and cash. The stablecoin is also available on the Kraken exchange, enhancing its accessibility for users.
Fireblocks is responsible for providing the necessary infrastructure for issuance and operational processes, while LayerZero Labs facilitates cross-chain transfers through its Stargate platform. Moreover, the stablecoin offers the convenience of being spendable anywhere Visa is accepted, enabled by integrations with Apple Pay and Google Pay, backed by Avalanche’s infrastructure and fintech solutions from Rain.
