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Stablecoin

State of Wyoming, public sector, on Ethereum since August 2025.

Frontier Stable Token, the first fiat-backed stable token issued by a US public entity, via the Wyoming Stable Token Commission. Also on Base, Arbitrum, Optimism, Polygon (Ethereum-family) and Solana, Avalanche, Hedera. CAVEAT: aggregator-sourced in this pass. Symbolically important, economically trivial at under $1m.

In the record

12

months from first observation to the record's assessment of August 2026

8

public sector rows in the record, this one included

45

rows filed to Ethereum by their sources

What it bears on

R3Do we know what this instrument is, legally, in every venue we operate?

needs design

ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.

This requirement in the register, with evidence

R6Who is the counterparty when there is no counterparty?

needs design

An ownerless system meeting procurement built for vendors. Six organisations can take your first call, and our own unincorporated status is part of this problem, not outside it.

This requirement in the register, with evidence

More public sector deployments in the record

The record in full