The state of Wyoming in the United States will launch the stablecoin FRNT on Hedera

the Wyoming Stable Token Committee (WYST) announced that the first state-issued stablecoin, Frontier Stable Token (FRNT), will soon be launched on the trusted public network Hedera.

FRNT is created under the 2023 Wyoming Stable Token Act and is the first state-issued stablecoin in the United States. It is fully backed by US dollars and short-term US Treasury securities, with an additional 2% reserve held to ensure stability.