Wyoming State announced on Tuesday the launch of Mainnet of its stable token of US dollar border in US dollars (FRNT)alleging that it is the first totally reserved stable in the country issued by a public entity.
“The main launch of the stable Frontier token will empower our citizens and businesses with modern, efficient and safe means to transact the digital age,” said Mark Gordon, governor of Wyoming and president of the Wyoming stable token commission, in a statement.
Token has already been deployed in the referee
Avalanche, base, ethereum, optimism, polygon (Pol)and Solana Networks, according to blockchain data on the project website. The Token is designed to be 2% too collateralized, backed by US dollars and short -lived American -durable treasures in trust.
The Token will be available for the broadest public in the next few days in Solana through the Integrated Exchange Kraken and Rain visa card platform on Avalanche Blockchain, according to the press release.
The announcement coincided with the Wyoming Blockchain Symposium Conference in Jackson Hole, Wyoming, follows the US.
Stablecoins are a class of cryptocurrencies of $ 260 billion with prices linked to an external asset such as the US dollar. They could become a billion market in the coming years and interrupt payments flows as the adoption in the real economy expands, the Keyrock cryptography trade firm projected on a recent report.
Wyoming, known for its progress position on blockchain legislation, created Wyoming’s stable token commission in 2023 to develop and issue a token backed by US dollar and supervise its integration into public finances. Last month, the State made a test transaction for the payment of the Government Contractor in real time on the Avalanche headquarters.
The commission has been associated with Layerzero for the issuance of tokens, the fire blocks for Blockchain infrastructure, Franklin’s advisors for reservations management, Digital Inca for open source intelligence and the network company for monthly audits and certifications, all selected through an acquisition process, according to the press release.
Read more: The United States Treasury Department begins to work in genius, collecting opinions on illegal activity
