Kraken Users Gain Access to Wyoming’s Groundbreaking State-Issued Stablecoin Across Major Blockchains

In a historic move for both cryptocurrency and government innovation, Wyoming has launched the Frontier Stable Token (FRNT) - the first fully-reserved stablecoin issued by a U.S. public entity. This development represents a significant milestone in the integration of traditional finance and blockchain technology, offering Kraken users and the broader crypto community unprecedented access to a government-backed digital asset. The stablecoin's deployment across seven major blockchain networks including Ethereum, Solana, and Polygon positions it as one of the most accessible state-issued digital currencies available to traders and institutions. Governor Mark Gordon's emphasis on modernizing digital transactions for businesses and citizens underscores the growing recognition of blockchain's potential in public finance. With backing from U.S. dollars and short-duration treasuries, coupled with a maintained 2% reserve buffer, FRNT sets a new standard for stability and reliability in the stablecoin market. This initiative not only demonstrates Wyoming's continued leadership in crypto-friendly legislation but also provides Kraken's extensive user base with enhanced trading options and liquidity opportunities across multiple blockchain ecosystems.

Wyoming Launches First State-Issued Stablecoin Across Seven Blockchains

Wyoming has launched the Frontier Stable Token (FRNT), marking the first fully-reserved stablecoin issued by a U.S. public entity. Governor Mark Gordon emphasized the token's role in modernizing digital transactions for businesses and citizens.

The stablecoin is deployed on Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana. Backed by U.S. dollars and short-duration treasuries, FRNT maintains a 2% over-collateralization buffer.

Kraken and Rain's Visa-integrated platform will facilitate public access to the token on Solana and Avalanche networks. The launch coincides with Wyoming's Blockchain Symposium and follows federal stablecoin regulation efforts under the GENIUS Act.

Stablecoins now represent a $260 billion market, with projections suggesting trillion-dollar potential within years. Wyoming's MOVE signals growing institutional adoption of blockchain-based financial infrastructure.

Wyoming Becomes First U.S. State to Issue Its Own Stablecoin: All About FRNT

Wyoming has made history by launching the Frontier Stable Token (FRNT), the first government-issued stablecoin in the United States. Backed by U.S. dollars and short-term Treasuries with a 2% overcollateralization, FRNT aims to facilitate secure and efficient digital transactions across seven blockchains: Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana.

The stablecoin is not yet available to the public, pending regulatory approvals. Once live, it will be accessible on solana via Kraken and on Avalanche through Rain’s Visa card. Governor Mark Gordon emphasized the state’s commitment to blockchain innovation, positioning Wyoming as a leader in public-sector adoption of digital assets.