The Wyoming stable token commission, a body authorized by the US state to emit stablecoin, announced the main launch of stable token stable (FNT).
The Stablecoin FRNT is a fully collateralized digital token supported by short -term US Treasury tickets and US dollars, with a reserve requirement of 102% compulsory, the committee announced on Tuesday.
According to the cryptocurrency host Eleanor Terrett, the FRNT is now live on seven blockchains, in particular Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism and Base.
“However, due to persistent regulatory obstacles, the token is not yet available for the public,” said Terrett in an X Post on Tuesday.
Frnt at Wyoming Blockchain Symposium
The launch of the FRNT Mainnet should be announced at the Wyoming blockchain symposium, a second annual event organized by the financial networking platform Salt and Kraken Exchange.
“For years, Wyoming has been the main state of blockchain, cryptocurrency and the regulation of digital assets, spending more than 45 laws since 2016,” said Wyoming Governor Mark Gordon, adding:
“The main launch of the Frontier stable token will allow our citizens and businesses a modern, effective and secure means of transforming in the digital age.”
The official announcement highlights the collaboration of the commission with the Blockchain Layerzero interoperability protocol to offer FRNT on several blockchain networks.
The initial availability of the FRNT should include purchases on the Solana blockchain via an exchange of domiciled crypto in Wyoming in the coming days, the Commission said.
“Public availability will be noticed with a distribution of this office and the stable token commission,” he added.
Frnt is accepted by the visa
According to an announcement shared by the developer Avalanche Avalanche, the Stablecoin FNT Wyoming will be available for use anywhere, the visa is accepted.
The supported payment channels include the main mobile payment and digital portfolio services such as Apple Pay and Google Pay, as well as physical cards.
“FRNT’s emission reports a paradigm shift,” said Commission Executive Director Anthony Apollo, stressing that Wyoming was among the pioneers of crypto adoption and digital assets in the United States.
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“In addition to regulations, public entities now have an innovation model that can make government processes much more effective,” said Apollo in a press release, adding: adding: adding: adding: adding: adding:
“To pay the sellers in a few seconds to allow tax reimbursements and benefits on the chain, FrNT introduces the action of the State in the programmable era.”
A spokesperson for Ava Labs also told Cintelegraph that the FRNT was the same token previously called Wyoming Stable Token (Wyst) and Wyoming Electronic Stable Token (West).
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