FRNT Launch on Hedera Could Be a Game-Changer for the HBAR
The Wyoming-issued Frontier Stable Token (FRNT) will move to the Hedera blockchain after launching on the mainnet in August. Before the news, Hedera’s (HBAR) price had dropped to $0.2113. It did, however, end its previous slump with a slight 1.1% gain to $0.2136 after the announcement.
FRNT Stablecoin Leverages Hedera’s Global Governance for Public Trust
The choice was heavily influenced by Hedera’s governance style, which is headed by the Hedera Council of international organizations. Governments and businesses, such as the UK Civil Aviation Authority, IBM, Google, and Mondelez, already trust the Hedera network for practical implementation. Even though FRNT made its mainnet debut on Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base, its rollout is still restricted. The Commission pointed out that there are currently no choices for purchases, but Hedera promised to provide additional information shortly.
For Wyoming and the larger market, FRNT is even more important. In contrast to privately minted stablecoins, FRNT is a publicly traded financial instrument. It is fully supported by liquid assets and functions in accordance with state legislation. Extra stability is provided by a reserve. The public interest is given priority, and transparency is guaranteed by the WYST framework.
Our goal with FRNT is to set a new standard for how states leverage digital assets to better serve the public,
Browse PostsAnthony Apollo, Executive Director of the Wyoming Stable Token Commission
FRNT: The US Government’s First Stablecoin
The first stablecoin issued by the US government is called the Frontier Stable Token, or FRNT for short. With an extra reserve for stability, it is entirely backed by US dollars and short-term Treasuries, having been established under the Wyoming Stable Token Act of 2023. The only other blockchain option for FRNT, according to Wyoming, was Hedera, which they selected after assessing compliance, speed, and dependability.
The Commission selected Hedera for candidacy because its technical edge aligns with our commitment to security and compliance,
Apollo
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