The State of Wyoming has initiated a large-scale blockchain test involving 700,000 Frontier (FRNT) stablecoins, deploying 100,000 tokens each on seven major blockchains.
Data from Dune Analytics researcher Marcov confirmed that the rollout took place on October 20 across Ethereum, Solana, Avalanche C-Chain, Arbitrum, Optimism, Base, and Polygon.
This deployment marks the first major on-chain activity since Wyoming launched the FRNT stablecoin on mainnet in August. The program positions Wyoming as the first U.S. state to issue a government-backed stablecoin.
State-Issued Stablecoin With a Public Purpose
The Frontier Stable Token (FRNT) aims to serve more than a technical function. According to the Wyoming Stable Token Commission, revenue from FRNT’s reserve yields will be directed into the state’s education fund.
Governor Mark Gordon described this as a “modern revenue stream” that can support public services without raising taxes.
Anthony Apollo, Executive Director of the Commission, emphasized the innovation behind the project, saying that Wyoming aims to prove governments can innovate as well as regulate.
Backed by U.S. Assets and Transparent Oversight
Each FRNT token derives its value from an equal amount of U.S. dollars and short-term Treasuries safely managed in trust. Wyoming law also requires 2% overcollateralization, adding a buffer beyond standard stablecoin reserves.
Franklin Advisers manages the reserve portfolio, while The Network Firm conducts monthly attestations and audits. These moves aim to provide transparency and stability to the project and reassure both regulators and investors.
Testing Multi-Chain Infrastructure
By distributing the same number of tokens across multiple chains, Wyoming is testing cross-chain functionality and network resilience. The multi-chain strategy also aims to ensure accessibility for users and developers operating in different blockchain ecosystems.
Officials confirmed this approach had been planned since the token’s August launch announcement.
Public Rollout Faces Regulatory Delays
Wyoming initially planned to make FRNT available to the public through Kraken, a Wyoming-based exchange, starting with the Solana blockchain.
However, regulatory reviews have slowed the public rollout despite technical readiness. Apollo said earlier this year that further compliance checks and beta testing would be required before launch.
Early Pilot Results Show Efficiency Gains
In July, Wyoming ran a pilot with Hashfire on the Avalanche network. The trial demonstrated significant efficiency improvements, cutting contractor payment times from 45 days to a few seconds.
The result supported the state’s goal of using blockchain for faster and more transparent financial operations.
Next Steps and Market Outlook
The Wyoming Stable Token Commission has not announced a timeline for public distribution or further expansion beyond the current addresses. Commissioner Joel Revill, also CEO of Two Ocean Trust, said that market forces will shape how the token is used.
Wyoming plans to release monthly transparency reports and audit results to ensure continued public accountability.
For now, the FRNT deployment remains a testing milestone, marking an unprecedented step in how U.S. state governments engage with blockchain technology.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
