Wyoming just became the first U.S. state to launch its own stablecoin, promising lower fees and instant transactions.

The Wyoming Stable Token Commission, created in 2023, announced on Tuesday the launch of the mainnet blockchain network for its new Frontier Stable Token (FRNT). The commission says FRNT will make digital payments faster and more secure for individuals, businesses, and institutions around the world. How that’s different from any other stablecoin’s promises is anyone’s guess. 

“For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016,” Governor Mark Gordon said in a press release. “Today, Wyoming reaffirms its commitment to financial innovation and consumer protection.”

This is the latest in the state’s efforts to become a crypto hub. The launch of the stablecoin—a cryptocurrency meant to maintain a stable value by being tied to a fiat currency or commodity—coincides with the Wyoming Blockchain Symposium conference in Jackson Hole.

The move also comes just a month after President Donald Trump signed the Genius Act into law, introducing federal rules for stablecoins. The law requires issuers to fully back their coins with liquid assets like U.S. dollars or short-term Treasury bills and to publish monthly disclosures of their reserves.

However, FRNT isn’t covered by the Genius Act, which applies to businesses, not government-issued tokens.

Still, the token will be fully backed by U.S. dollars and short-duration Treasuries, held in trust for token holders. Wyoming law also requires FRNT to maintain 2% overcollateralization to strengthen its stability. Interest generated by the reserves will be sent to Wyoming’s School Foundation Fund.

The commission is working with LayerZero to issue FRNT, which will be available across multiple blockchains, including Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, and Solana. The token will be available initially in the coming days on Solana via Wyoming-domiciled digital asset exchange Kraken and through Rain’s Visa-integrated card platform on Avalanche.

“Through Rain’s stablecoin infrastructure, FRNT will be usable anywhere Visa is accepted—including Apple Pay, Google Pay, and physical cards—marking a historic first for a U.S. state-issued digital asset,” Rain said in a press release.

In a blog post, Avalanche said that the stablecoin could someday enable instant tax refunds, real-time disaster relief, and payroll systems that settle in seconds.

It remains to be seen whether these big promises will actually be fulfilled. Meanwhile, other states like Texas and Nebraska are also looking to get into the stablecoin game.