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.
proving once again nothing good comes out of wyoming
It’s no coincidence its name starts with “Why?”.
So, Wyoming, home of Jackson Hole, where all the “federal” reserve chairs meet, who have been wanting to supplant the dollar with their own central bank digital currency, was the first state to implement a “stable” coin? Can’t say I’m surprised.
Now wait a minute, Yellowstone National Park is partly in that state. Also a lot of other great state parks. So something good comes from there.