Feed: Slashdot
Feed Link: https://slashdot.org/
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Title: Wyoming Launches First State-Backed Stablecoin on Seven Blockchains

Link: https://news.slashdot.org/story/25/08/19/1844...

An anonymous reader shares a report: 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. "FRNT is designed to provide secure, transparent,
and efficient digital transactions for individuals, businesses, and
institutions -- worldwide," the commission wrote in a statement. "This
groundbreaking initiative cements Wyoming at the forefront of digital finance
and blockchain innovation." Indeed, the Cowboy State has long been ahead of
the curve when it comes to crypto regulation, including in recognizing DAOs
as legal entities, creating a framework for "crypto-banks" under the Special
Purpose Depository Institutions charter, and passing the state's Stable Token
Act -- all meant to draw economic activity to the region.

Read more of this story at Slashdot.

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