WYOMING ISSUES FIRST STATE-BACKED STABLECOIN ON SOLANA

Summary from the TLDR Crypto newsletter

Wyoming launched FRNT on Solana, the first US state-backed stablecoin managed by Franklin Templeton, held in a Wyoming trust exclusively in USD and short-term Treasuries. Interest from reserves funds Wyoming's school program as the token bridges to six EVM chains, including Ethereum, Arbitrum, Base, Optimism, Polygon, and Avalanche via LayerZero. The launch follows the 2023 Stable Token Act and an 11-blockchain consultation period concluding with Solana's selection as the native chain.