this post was submitted on 20 Aug 2025
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Wyoming launches first state-backed stablecoin on seven blockchains (www.theblock.co)
submitted 1 day ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
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After years of research, the Wyoming Stable Token Commission has unveiled the mainnet launch of its first official state-backed stablecoin. The so-called Frontier Stable Token (FRNT), marking the first time a U.S. state has issued a blockchain-based, fiat-pegged token meant to be used by retail and enterprises alike, according to an announcement on Tuesday.

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[โ€“] ushmel@piefed.world 42 points 1 day ago (2 children)

What is even the point of a stable coin like this. It's literally pegged to the dollar. It's a worthless exercise from a worthless state

[โ€“] ryannathans@aussie.zone 2 points 17 hours ago

Electronic payments without visa and MasterCard maybe?

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