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Wyoming launches first state-issued stablecoin FRNT, spurred by GENIUS bill passage
The Wyoming Stable Token Commission announced the mainnet launch of its Frontier Stable Token (FRNT) on Tuesday, marking the first state-issued digital asset in the US. The Wyoming Stable Token Commission said it has officially launched its FRNT stablecoin, making it the first US state to achieve the feat, according to a statement on Tuesday. The Commission claims FRNT is backed by US Dollars and short-term Treasury bills, with a statutory requirement that reserves be overcollateralized by 2%. "The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and ... (full story)
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On today's episode of CNBC Crypto World, bitcoin and altcoins slump as tech stocks pull back. Plus, Wyoming launches the Frontier Stable Token, the first state-backed stablecoin. And, Rep. Brian Steil (R-Wisconsin) discusses the next crypto legislative priorities for Congress.
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