Wyoming Stabilizes Its Stablecoin with Chainlink Proof of Reserve
The Wyoming Stable Token Commission has strengthened its collaboration with Chainlink to improve transparency in its stablecoin efforts. The commission, which issues the Frontier Stable Token (FRNT), has adopted Chainlink's Proof of Reserve, exceeding requirements established by the GENIUS Act.
The GENIUS Act mandates monthly disclosure of reserve composition and outstanding supply supported by independent examination of month-end reporting. However, the commission notes that this approach only provides a 'point-in-time' view, creating a gap in information about changes since the last verification.
Wyoming surpasses its own best-in-class baseline by combining independent examination with automated on-chain verification. The commission already posts daily attestations on its website, further exceeding GENIUS requirements.