Wyoming announced on August 18 that it has completed migrating its stablecoin FRNT from LayerZero’s Stargate bridge to Chainlink’s CCIP protocol, with plans to expand the partnership to include on-chain reserve verification. The decision followed an internal security review that raised concerns about LayerZero’s operational security and disclosure practices. Nearly 15 billion dollars in assets have migrated from LayerZero to CCIP according to available data. FRNT, launched in January 2026 under the Wyoming Stable Token Act, is the first fiat-backed stablecoin issued by a US public entity, with a market capitalization below 1 million dollars. Reserve income from Treasury holdings flows directly into Wyoming’s School Foundation Program, which funds public education across the state.
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