The Wyoming Stable Token Committee announced the formal integration of Frontier Token (FRNT) into the Solana network this Wednesday, January 7th.
The asset is now available for trading on the Kraken exchange with geo-restrictions, which is a milestone. The first stablecoin issued by a US government agency.
FRNT remains pegged 1:1 against USD And the entire amount is backed by cash and government bonds. Interest earned on these reserves will be used to fund Wyoming’s public school programs, as promised by the issuer.
However, this launch is not without controversy. As CriptoNoticias reported last August, analysts and community members believe that this type of national digital asset is These could act as “backdoor” central bank digital currencies (CBDCs).
nevertheless Donald Trump’s administration has banned the development of CBDCs At the federal level to protect financial privacy, the issuance of state-controlled tokens raises questions about transaction monitoring.
Governor Mark Gordon has defended FRNT as a tool for financial innovation and revenue diversification, but critics have warned that the token’s centralized structure could lay the groundwork for a supervised digital dollar network that circumvents current federal regulations.
