|
For Immediate Release
Wyoming Stable Token Commission Reaches Major Milestone in Transparency and Public Readiness; Converse County Treasurer Highlights FRNT Cost Savings
CHEYENNE, Wyo, Nov. 24, 2025 – The Wyoming Stable Token Commission is proud to announce a significant achievement in its commitment to transparency and public trust. On Nov. 17, the Commission published its initial monthly attestation of reserves for the Frontier Stable Token (“FRNT”), with an independent opinion provided by The Network Firm LLP. This is the first such report by a state agency and demonstrates the Commission’s dedication to building in the open. The report was formally reviewed during the Commission’s regular meeting on Thursday, Nov. 20.
The Commission’s technical team has also transitioned from a limited pilot program focused on a small number of Wyoming-domiciled entities to a testing program available for all. Digital wallet users anywhere in the world can now connect to the Commission’s website to access “testnet” FRNT (“tFRNT”) that does not have a value associated with it. This gives developers – and the public – an opportunity to experiment with this novel digital asset without requiring a purchase.
The Commission thanks Joel Schell, Converse County Treasurer for his testimony at the recent meeting. Treasurer Schell highlighted how FRNT can be integrated into state operations to save his constituents’ money.
“The county is like any other business; we take credit cards. But we can't raise registration fees and property taxes to absorb the processing costs, so we send those costs directly to the customers. And customers hate those fees. Last year my office took in about $3.4 million in credit card transactions, which cost our constituents about $70,000 in fees that our processors collected. We're anxious to get out of that climate and to move into something else, and I think electronic payments, especially the stable tokens, would let us do that, get more efficient,” Treasurer Schell said.
“The Commission appreciates Treasurer Schell’s contribution. We will continue to highlight the real impact that FRNT can have for the bottom line of Wyoming’s citizens in the leadup to an imminent public launch,” the Commission’s Executive Director Anthony Apollo said.
For more information, visit https://stabletoken.wyo.gov/.
Contact: [email protected]
|
