Wyoming Selects Hedera as Eighth Blockchain for First State-Issued Stable Token

The Wyoming Stable Token Commission announced that Hedera will become a candidate blockchain for the Frontier Stable Token (FRNT), the first state-issued stable token in the United States . The Dallas-based distributed ledger platform was selected as the only additional blockchain during the Commission's Q2 evaluation, having met criteria for speed, reliability, and regulatory alignment . 

FRNT launched in August 2024 under the Wyoming Stable Token Act of 2023, making Wyoming the first U.S. state to issue a digital dollar . The token is fully backed by U.S. dollars and short-term Treasuries with an additional two percent reserve buffer . Interest earned from Treasury purchases will fund Wyoming's School Foundation Program, supporting state education initiatives.

The stable token currently operates on seven blockchains including Ethereum, Solana, Arbitrum, Avalanche, Base, Optimism, and Polygon . Hedera would become the eighth deployment platform if approved after the candidacy period.

"Our goal with FRNT is to set a new standard for how states leverage digital assets to better serve the public," said Anthony Apollo, Executive Director of the Wyoming Stable Token Commission. Apollo cited Hedera's technical capabilities and regulatory alignment as key selection factors.

Hedera operates using hashgraph technology rather than traditional blockchain, enabling 10,000 transactions per second with finalization in seconds and fixed low fees . The network is governed by the Hedera Council, comprising up to 39 global institutions that provide collusion-resistant oversight .

"Wyoming's selection of Hedera shows how responsible innovation can deliver real-world financial solutions, setting a precedent for other states and, ultimately, the world to follow," said Mance Harmon, Co-Founder of Hedera and Chairman of Hedera Council.

FRNT has been piloted for contractor payments, emergency disbursements, and other public services but is not currently available for public purchase . The Commission plans to distribute FRNT through authorized resellers following "Know Your Business" reviews rather than direct sales. 

The Wyoming initiative represents the first attempt by a U.S. state to issue its own digital currency, positioning the state as a leader in blockchain innovation . The Commission performs quarterly assessments of candidate blockchains based on objective technical and compliance criteria.