Wyoming to launch Solana-based state stablecoin FRNT on Jan. 10

The U.S. state of Wyoming will launch the Frontier Stable Token (FRNT), a state-issued stablecoin built on the Solana (SOL) blockchain, on Jan. 10, The Block reported. According to the report, FRNT is the first official dollar-pegged digital asset to be directly issued by a state government. Unlike privately issued stablecoins, FRNT will operate under a transparent, legally-based supervisory framework and will be over-collateralized. Its reserves, held in a Wyoming-based trust, will consist entirely of U.S. dollars and short-term U.S. Treasury bonds. The launch was initially scheduled for Jan. 8 but was postponed for two days due to technical issues.