Wyoming Stable Token Commission Adopts Chainlink Proof of Reserve for FRNT
The Wyoming Stable Token Commission has announced that it will use Chainlink Proof of Reserve to publish reserve-related information for FRNT, its dollar-pegged stablecoin. This development follows the GENIUS Act, which established federal requirements for payment stablecoins.
Under the planned arrangement, The Network Firm will examine FRNT's reserves and token supply under AICPA standards, while Chainlink infrastructure will publish the resulting information onchain. Wyoming already publishes daily reserve attestations for FRNT, but this new system adds an additional layer of transparency by making that information accessible through a blockchain.
The commission is also working on a Proof of Reserve Secure Mint system for FRNT, which would connect the creation of new FRNT tokens with reserve conditions. This proposed mechanism would potentially place conditions on new issuance and could eventually become a requirement before additional tokens are issued.