Wyoming Frontier Token Tests Stablecoin Model Watched by States

Wyoming’s state-backed stablecoin is slated to go fully live across digital wallets in the coming weeks, testing out applications such as blockchain-based cattle transactions and retail purchases, with profits going toward education and other public services.

Proponents of the Frontier Stable Token, unveiled in August as the first stablecoin issued by a US public entity, say its government backing will entice businesses, consumers, and investors, with instant transaction settlements and reduced fees.

Leading tokens from Tether and Circle dominate the market, and with the Trump family’s World Liberty Financial USD1 also competing in an already crowded field, Wyoming still has ...