The Frontier Stable Token (FRNT), a stablecoin authorized by the US state of Wyoming, will soon be available on the Hedera blockchain after its mainnet launch in August.
In a Thursday notice, Hedera said the Wyoming Stable Token Commission — the body responsible for issuing the stablecoin — had selected the blockchain as a candidate for FRNT following a review of possible networks, and approved the proposal.
The stablecoin reportedly went live on seven blockchains at launch: Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism and Base.
“The Commission selected Hedera for candidacy because its technical edge aligns with our commitment to security and compliance,” said Anthony Apollo, executive director of the Wyoming Stable Token Commission.
Though many expected FRNT to be available for purchase in a matter of days after the August launch, the Wyoming Stable Token Commission website said users would not have this option as of Thursday.
Hedera said information on purchasing the coin would be available “soon.”
Related: Citi executive warns stablecoin yields could drain bank deposits: Report
Wyoming becoming a US crypto hub
Though policies and regulations at the federal level affecting crypto companies appear to be softening at the federal level under US President Donald Trump, state governments still have some authority to determine how to handle digital assets.
Wyoming, which was one of the first states to treat crypto as fiat money, has attracted several companies, lawmakers campaigning on digital assets, and conferences.
Cryptocurrency exchange Kraken said in June that it would move its global headquarters to Cheyenne, citing “recognition of the pro-crypto policymakers and constructive regulations.”
The American Innovation Project, an advocacy group that announced its launch amid a Wyoming conference, was the host for an event in which a Justice Department official suggested a radical change to enforcement cases involving crypto and blockchain.
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