Home Wyoming Adds Chainlink Reserve Verification To State-issued Stable Token

Wyoming Adds Chainlink Reserve Verification To State-issued Stable Token

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Wyoming Adds Chainlink Reserve Verification To State-issued Stable Token
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Wyoming is adding near-real-time onchain reserve verification to its state-issued Frontier Stable Token, or FRNT, through an expanded integration with blockchain oracle network Chainlink. The Wyoming Stable Token Commission said it has adopted Chainlink Proof of Reserve to publish verified data on FRNT’s reserves and token supply onchain.

The system combines independent examinations by The Network Firm with Chainlink’s infrastructure, giving users more timely visibility into the stablecoin’s backing.

Wyoming already publishes daily reserve attestations for FRNT. However, the new system is designed to provide more frequent information about changes in reserves and token supply between those reporting periods.

The move also comes as stablecoin regulation becomes more detailed in the United States. The GENIUS Act requires monthly disclosures covering reserve composition and outstanding stablecoin supply. Wyoming’s use of Chainlink is intended to provide additional transparency between those formal reporting periods.

The commission is also working to introduce Chainlink’s Secure Mint feature. Under the proposed system, new FRNT tokens could only be minted when verified reserves are equal to or greater than the total supply of tokens in circulation.

FRNT was launched in January and is backed by U.S. dollars and short-term U.S. Treasurys. Interest generated from those reserves is deposited into Wyoming’s School Foundation Program.

Wyoming has also recently changed the blockchain infrastructure supporting the token. About two weeks before the latest announcement, the state completed its migration of FRNT from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol, making CCIP the token’s exclusive cross-chain infrastructure.

The latest integration is part of Chainlink’s growing presence in traditional financial markets and tokenized assets. The network has been involved in projects covering tokenized equities, stablecoin settlement and financial market infrastructure.

In August, Chainlink became the pricing-data provider for Coinbase’s B20 tokenized equities following their launch on Base. The feeds cover companies including Apple, Nvidia, Meta and Alphabet, allowing decentralized finance applications to value the tokenized stocks for activities such as lending, trading and collateral management.

Chainlink has also been involved in Project Pangea, an initiative involving European and South Korean banking groups that is exploring regulated euro- and won-denominated stablecoins for atomic foreign-exchange settlement.

Its work with traditional financial infrastructure extends to the DTCC as well. The securities market infrastructure provider said in May that it would integrate Chainlink technology into a planned 24/7 platform for managing tokenized collateral.

Fidelity International has also launched a tokenized liquidity fund using infrastructure from Chainlink and Sygnum, with JPMorgan providing daily net asset value data for pricing.

The expansion comes as blockchain networks increasingly become part of experiments involving established financial institutions. For Wyoming, the focus is more specific: making the backing of a government-issued stable token easier to verify and monitor.

Chainlink’s LINK token has also gained attention during this expansion. It was trading at around $11.07 on Wednesday, having gained more than 34% over the previous month, according to CoinGecko data.

The Wyoming project shows how blockchain infrastructure is being used not only to issue digital assets but also to provide ongoing visibility into the reserves supporting them.

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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