Buy on Kraken: State Crypto Goes Live

Wyoming just made a big move in the crypto world. Governor Mark Gordon announced that the state’s own digital currency, the Frontier Stable Token (FRNT), is now up for grabs on the popular exchange Kraken. This comes after the state first talked about launching its own coin last August.

What is Wyoming’s Frontier Stable Token?

The FRNT is a stable token backed by the state of Wyoming. Stablecoins like this one aim to keep a steady value, often tied to the US dollar. This makes them useful for everyday transactions without the wild price swings of Bitcoin or Ethereum.

Governor Gordon called Wyoming an “innovation leader” for the nation. He says FRNT offers cheaper, faster, and more transparent ways to send money. Plus, any interest earned from the token’s reserves will go straight to the Wyoming School Foundation Program. That’s a smart way to support education while dipping into crypto.

From Skeptic to Supporter: Gordon’s Journey

Not long ago, even the governor had doubts. Back in 2023, he let the law creating FRNT pass without signing it. He worried about vague rules and no clear plan. Critics called it a gimmick with “no use case.”

But things changed. Now, Wyoming sees FRNT as a real tool for businesses and citizens. It’s live on Kraken, one of the top crypto exchanges, making it easy for anyone to buy FRNT with fiat or other cryptos.

“This further demonstrates the strength of our enterprise and provides our citizens, businesses, and the nation a cheaper, faster, and more transparent means of transacting.” – Gov. Mark Gordon

Rare Move: Few States Dare to Issue Their Own Crypto

Government-backed cryptos are still uncommon. Cities like Miami tried with MiamiCoin, but interest faded fast. People didn’t want to swap dollars for branded tokens.

North Dakota is the only other state in the game. They launched the Roughrider coin last October, named after Teddy Roosevelt’s old cavalry group. For now, it’s mainly for banks to speed up payments and add stability. Public sales are planned later.

US States Heat Up on Crypto Legislation

State lawmakers across the US are buzzing about crypto. Dozens of bills pop up each year, mixing excitement and caution.

• Texas: Created a Strategic Bitcoin Reserve with $10 million. Sen. Charles Schwertner called Bitcoin “digital gold” for the future.
• Arizona: Gov. Katie Hobbs vetoed a plan to put 10% of state funds into crypto, calling it “untested.” But lawmakers are pushing back with new bills for crypto payments on taxes and fees.
• Florida: New bill lets the chief financial officer run a strategic crypto reserve. The state already recognizes gold and silver as legal tender.
• Colorado: Accepts crypto for taxes since 2022. Got 113 payments worth $115,000 by late last year – a record.
• Maine: Forming a special commission on crypto and blockchain.
• New York: Gov. Kathy Hochul vetoed a crypto study task force over funding issues.
• Georgia: Bill for school programs on crypto, blockchain, and Web3 tech stalled after first reading.

Many bills start strong but fizzle out. Boosters push for bitcoin reserves to stay economically relevant, especially Republicans. Democrats often worry about risks to stable investments like pensions.

Why Wyoming Leads the Pack

Wyoming has been crypto-friendly for years. It’s home to many blockchain firms thanks to pro-crypto laws. FRNT builds on that, using blockchain for secure, fast state transactions.

Stablecoins solve real problems: high fees, slow banks, lack of transparency. For Wyoming, it’s about cutting costs and funding schools. If successful, other states might follow.

How to Buy FRNT on Kraken

1. Sign up on Kraken and verify your account.
2. Deposit USD or other cryptos.
3. Search for FRNT and place your buy order.
4. Store in a secure wallet.

Always do your own research (DYOR) and consider risks. Stablecoins are stable, but regulations can change.

The Bigger Picture: Crypto’s Role in Government

State crypto efforts show blockchain’s growing appeal. From payments to reserves, it’s reshaping finance. Wyoming’s FRNT could pave the way for more state tokens, blending tradition with tech.

Will FRNT succeed where others failed? Early signs look good with Kraken backing. Watch for adoption rates and real-world use.

Final Thoughts

marks a milestone. It’s now available for purchase, proving states can innovate in crypto. Whether you’re a trader or just curious, this is one to watch. What do you think – game-changer or gimmick? Drop your thoughts in the comments.

Stay tuned for more crypto news and guides.

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.