Wyoming adopts Chainlink Proof of Reserve for FRNT stablecoin

The Wyoming Stable Token Commission has adopted Chainlink Proof of Reserve (PoR) to enhance the transparency of its Frontier Stable Token (FRNT). This integration allows for near-real-time, onchain verification of the token's reserves, surpassing the monthly disclosure requirements established by the federal GENIUS Act.

The new framework combines independent examinations by The Network Firm, conducted under AICPA standards, with automated onchain data provided by Chainlink. This multi-layered approach aims to eliminate information gaps that occur between periodic reporting cycles. Additionally, the Commission is working to implement Chainlink’s Secure Mint mechanism, which would programmatically prevent the issuance of new FRNT tokens unless verified reserves are confirmed to meet or exceed the total outstanding supply.

FRNT, the first stablecoin issued by a U.S. state, is backed by U.S. dollars and short-term U.S. Treasuries. The revenue generated from these reserve assets is directed toward Wyoming’s School Foundation Program to support public education. The Commission has also transitioned its cross-chain infrastructure to Chainlink’s Cross-Chain Interoperability Protocol (CCIP).