Government Stablecoin, $300M Tokenized Institutional Funds

Avalanche is gaining ground as a preferred blockchain for governments and institutional investors, even as its native token continues to lag far below its all-time high.

During the past quarter, Wyoming’s Stable Token Commission issued the first government-backed stablecoin, the Frontier Stable Token (FRNT), on Avalanche and six other public blockchains, signaling a growing adoption of blockchain networks by governments. 

FRNT launched as a fully collateralized stablecoin backed by US dollars and short-duration US Treasury bills with a mandated 102%…