The state of Wyoming launched the first blockchain -based fixed -priced crypto currency (Stablecoin) in the United States. The currency is called Frontier Stable Token (Frnt) and started to be traded in seven different blockcha. With this development, Wyoming was the first public institution to implement state -based innovative steps in the field of crypto assets.
Frontier Stable Token (Frnt)
The Wyoming Stable Token Commission announced that the use of Frnt in the main network (Mainnet) started on August 19. Token, Arbitrum, Avalanche $23.32Base, Ethereum 
$4,300.67Optimism, polygon and solana can be used on a total of seven different networks. Thus, it was aimed to ensure that Frnt reaches a wide audience in different ecosystems.
According to the Wyoming Stable Token Commission, Frnt is completely supported by US dollar and short -term treasury bills. Due to the legal regulation, 2 percent of the token supply of the total assets is kept up to 2 percent. This is a mechanism that makes it sufficiently assured behind the crypto currency.
PUBLIC SUPPORTED Crypto Coins
The Commission announced that Frnt is designed to offer safe, transparent and effective digital transactions for citizens, businesses and institutions. The Blockchain infrastructure makes it possible that operations can be tracked and controlled. This approach can be an example for public crypto currency projects.
The Wyoming Stable Token Commission said: “Frnt is designed as a state -supported digital currency and offers a tool for safe financial transactions between the public and private sector,” he said.
Thanks to its work on different blockchain networks, Frnt provides easy access to the distributed financial services ecosystem. Users can perform operations through seven main blockchain ecosystem. Thus, the new crypto currency is aimed to reach more users. It is a very interesting move for a state to remove its own stablecoin for the first time. Stablecoin exports stablecoin in order to create cash for the purchase of too many banks due to the fact that income can be obtained from collateral assets.
We will see that Wyoming’s project plays a pilot role for other US states and public institutions. Since the Stablecoin market is expected to reach trillion dollars, such steps are not surprising, but should be seen as early moves that shed light on the future. These stablecoins, which are distributed to crypto currency networks, will increase the capital in the nets and support the growth of crypto currencies indirectly. .
All these developments say that crypto currency and blockchain technologies are becoming more widely accepted before the public. We will see that such projects led by the state of Wyoming are models for different applications in the future.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
