Wyoming Expands Collaboration with Chainlink, Introduces FRNT On-Chain Reserve Verification and Secure Minting Mechanism

PANews reported on September 2, according to The Block, that the Wyoming Stable Token Commission announced the adoption of Chainlink Proof of Reserve to provide near real-time on-chain reserve verification for the state's official stablecoin, Frontier Stable Token (FRNT), and, following the earlier migration of its cross-chain infrastructure from LayerZero to Chainlink CCIP, will further use it as the sole on-chain asset verification infrastructure. Audit firm The Network Firm will review FRNT's reserves and token supply in accordance with American Institute of Certified Public Accountants (AICPA) standards, and the verification data will be published on-chain via Chainlink, reducing information gaps between reporting periods. The commission will also introduce the Chainlink Proof of Reserve Secure Mint mechanism, requiring verified reserves to be no less than the total FRNT supply before additional issuance, in order to guard against risks such as unlimited minting. FRNT is fully backed by U.S. dollars and short-term U.S. Treasury reserves, with related earnings used to diversify state revenue and support local education funds.