Wyoming became the first US state to launch its own stablecoin with Frontier ($FRNT). The move can have a dramatic impact on how government entities disburse payments and increase the adoption of digital currencies in general.
Wyoming Governor Mark Gordon officially announced $FRNT’s launch in a bulletin published on his website yesterday.
‘The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.’
The governor added that the stablecoin will be available for purchase via the Solana blockchain on Kraken, as well as Rain’s card platform on the Avalanche blockchain.
In addition, $FRNT has also been deployed on the Arbitrum, Base, Ethereum, Optimism, and Polygon blockchains, allowing for smooth cross-chain transactions.
The issuance of a government-backed stablecoin can positively impact how government agencies disburse funds, from paying contractors to issuing tax refunds.
While $FRNT showed how it can make payments more efficient, the story is quite different with the base Bitcoin blockchain, where transactions are typically slow and come with high fees. Aside from that, $BTC also has limited utility outside of being a store of value.
The project will use a Canonical Bridge where you can deposit your $BTC to receive wrapped $BTC. You can use the $wBTC one the L2 for things like staking, trading, and interacting with dApps.
As the L2 runs on a Solana Virtual Machine, transactions will be quicker and cheaper compared to the base Bitcoin network. $BTC is now capable of ~7 transactions per second, which is very subpar for modern demands.
Cryptocurrencies are the future—there’s no doubt about that. As crypto adoption continues to grow, so does the need for a place to securely store it.
You can buy, sell, swap, and store your crypto long-term. Staking and spending (through an upcoming fiat card) are in the making, as well.
With nearly $15M raised during its presale, Best Wallet Token shows us that demand for secure crypto storage is real and is only bound to grow from here.
If you’re tired of waiting for months before you’re able to claim your presale tokens, then Bitcoin Penguins ($BPENGU) is for you.
It’s a quick presale that only runs from July 28 to August 27, and features 15 stages of price increases. The token’s value grows by 5% at each stage, making it crucial that you get in as early as you can.
For example, if you bought tokens on day one, their value will have increased by 98% by the time the presale concludes.
Take note that there are only four price increases left in the presale. So, if you’re considering maximizing your gains, the sooner you join, the better.
Aside from holding $BPENGU as an investment, it also gives you the chance to win 1 $BTC weekly. This could be your opportunity to finally add Bitcoin to your growing crypto portfolio.
With Wyoming’s $FRNT stablecoin, the state has moved the US and the rest of the world forward in terms of crypto adoption. This adds legitimacy to digital assets, which is one of the main stumbling blocks preventing more people from owning them.
Disclaimer: Do your own research when investing. This is not investment advice.
