Stable Token Commission previews Frontier stable token rollout, pilot integrations and budget; committee advances narrow investment amendment

Laramie, Wyo. — The Wyoming Stable Token Commission briefed the Select Committee on Blockchain Sept. 22 on operational progress toward a public rollout of a state-issued stable token (Frontier Stable Token), pilot integrations, rulemaking, and budget planning.

Anthony Apollo, executive director of the Wyoming Stable Token Commission, reported that Frontier smart contracts have been deployed on seven blockchains (Ethereum, Solana, Avalanche, Arbitrum, Base, Optimism and Polygon) and said deployments and testnets were live but that the token was not yet publicly available. “At this time, Wyoming Stable Tokens, including the Frontier Stable Token issued by the commission, are not available for purchase by the public,” Apollo said, and he cautioned that any sites or platforms claiming to sell Frontier tokens outside the commission’s published channels should be treated as fraudulent.

Apollo outlined pilot programs marketed to demonstrate practical uses: Hashfire (on-chain automated contracting for faster vendor payments), YOPay (a Venmo-like payment interface for stable tokens), Cattleproof (USDA-verified cattle-data platform moving payments on‑chain) and Toku (payroll options to receive part of pay in stable tokens). He said Kraken planned to list Frontier on Solana, and a Rain/“smart card” integration would permit Frontier to be used at Visa merchants and with Apple/Google Pay once vetted. Apollo said licensed service providers (LSPs) — exchanges, payment platforms, banks and credit unions — will resell and integrate the token after passing KYB/KYC reviews.

On regulation, the commission reported promulgating procurement, public-records fee and reserve-management rules (the reserve rules were finalized July 30 and fee/procurement rules in mid‑July). The commission filed token-management rules under an emergency procedure to align rule timing with planned token launch and opened a 45-day public notice-and-comment period on additional rules. Apollo said chapter 4 of the token-management rules would require any freeze or seizure of Wyoming stable tokens to be downstream of a lawful court order.

From a budget perspective Apollo said the commission had spent about $1.64 million of a $5.8 million appropriation and retained approximately $4.156 million for the biennium. He said a request to the governor’s office for the next biennium (FY2027) was posted at roughly $8.2 million but that a $2.5 million line included for market-maker liquidity might be reduced to a “basis points” fee and thus materially lowered; Apollo said the commission’s goal is to repay appropriated taxpayer funds in full.

The committee reviewed a Legislative Services Office (LSO) draft, 26LSO57, to permit the commission to invest trust-account funds in money-market or 2a‑7 funds and to accept grants, donations and other contributions into the trust account. Committee members and the commission discussed wording to ensure donations could include noncash digital assets; the committee voted to strike “of money” from a provision allowing acceptance of grants, gifts and donations. The committee later voted by roll call to pass 26LSO57 as amended (vote recorded as 7 ayes, 1 excused).