According to the statement, each FRNT token will be fully backed by US dollars and short-term treasury securities, held in trust to protect holders’ interests.
Wyoming Governor Mark Gordon, who also chairs the Commission overseeing the project, said the initiative illustrates the state’s ongoing commitment to innovation and consumer protection.
According to him:
“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.”
These efforts are designed to capture a slice of a market projected to reach trillions in value.
“Stablecoins will expand dollar access for billions across the globe and lead to a surge in demand for US Treasuries, which back stablecoins.”
Due to this, financial regulatory authorities in the United States, South Korea, Hong Kong, and Europe are introducing stricter regulations for the emerging sector.
