State of Wyoming Unveils its own Cryptocurrency Coin

Original Article Title:

Wyoming unveils state stablecoin

Original Article Author:

James Callan

Original Article Link:

linkedin . com /news/story/wyoming-unveils-state-stablecoin-6507588/

Original Article Text:

Wyoming has become the first U.S. state to issue its own stablecoin, marking a milestone for blockchain adoption in the wake of last month’s federal legislation to regulate digital assets. The stablecoin, known as the Frontier Stable Token, or FRNT, will be pegged to the U.S. dollar and backed by cash reserves as well as short-term Treasuries. The goal of Wyoming’s stablecoin — which will be available on seven blockchain networks — is to facilitate real-time payments and lower transaction fees for consumers and businesses.