Wyoming Launches Solana-Based Stablecoin 'FRNT'
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The US state of Wyoming will launch the Frontier Stable Token (FRNT), a state-backed stablecoin based on Solana (SOL), on January 10 (local time), The Block reported. The outlet explained, "FRNT is the first dollar-pegged stablecoin officially issued by a state government. Unlike existing private stablecoins, it has a transparent oversight system based on law and is issued in the form of over-collateralization. Reserves are held in a Wyoming-based trust, and operating assets are comprised entirely of US dollars and short-term US Treasury securities." FRNT was originally scheduled to launch on January 8, but was delayed by two days due to technical issues.
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