PANews reported on January 8th that, according to an announcement from the Wyoming Stable Token Commission, the state of Wyoming has officially launched its government-backed fiat-reserve stablecoin "FRNT" through the Kraken exchange, becoming the first fully reserve-backed stablecoin issued by a public institution in the United States. FRNT is deployed on the Solana blockchain and can be bridged to multiple blockchain networks such as Ethereum and Arbitrum via Stargate. The coin is targeted at individuals and institutions, supports instant settlement, and has transaction fees as low as $0.01. Its reserve interest will be used to support education within the state.