According to @CoinMarketCap, Wyoming has launched the first state-backed stablecoin on Solana, introducing the dollar-pegged FRNT token. According to @CoinMarketCap, FRNT is backed by reserves held in a Wyoming trust invested in U.S. dollars and short-term Treasurys. According to @CoinMarketCap, the issuance on the Solana (SOL) network places FRNT within the Solana ecosystem for on-chain use.