Wyoming has built something the rest of America didn't think a state could build, and the rest of America is now arguing about whether that was a great idea or a very bad one.
The Frontier Stable Token, ticker FRNT, has been quietly running since January, when Wyoming became the first US state to issue its own stablecoin. It is fully reserved with US dollars and short-term Treasuries, carries a 2% statutory overcollateralization buffer, lives on seven blockchains, and is managed on the reserves side by Franklin Templeton. By any clean technical measure, it is one of the better designed dollar tokens in circulat...
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