Wyoming adds Chainlink Proof of Reserve for FRNT

The Wyoming Stable Token Commission adopted Chainlink Proof of Reserve for the state-issued Frontier Stable Token, or FRNT. The system will publish near-real-time verified data on FRNT's reserves and token supply onchain. The Network Firm will conduct independent examinations for the system. Chainlink's infrastructure will make the data available in near real time. Wyoming already publishes daily reserve attestations for FRNT. The GENIUS Act requires monthly disclosures of reserve composition and outstanding stablecoin supply. The commission said the integration will provide more timely visibility into changes in FRNT's backing between reporting periods. The commission is working to adopt Chainlink's Secure Mint feature. The feature would require verified reserves to equal or exceed FRNT's total supply before new tokens can be minted. FRNT launched in January. FRNT is backed by US dollars and short-term US Treasurys. Interest income from FRNT's reserves is deposited into Wyoming's School Foundation Program. Wyoming fully migrated FRNT from LayerZero to Chainlink's Cross-Chain Interoperability Protocol about two weeks earlier. CCIP is now FRNT's exclusive cross-chain infrastructure. Chainlink became the pricing-data provider for Coinbase's B20 tokenized equities after their August launch on Base. The feeds cover stocks including Apple, Nvidia, Meta and Alphabet. DeFi protocols can use the feeds to value the tokens for lending, trading and collateral. Chainlink joined European and South Korean banking groups in Project Pangea in June. Project Pangea is exploring regulated euro- and won-denominated stablecoins for atomic foreign exchange settlement across the two regions. The Depository Trust and Clearing Corporation said in May that it would integrate Chainlink technology into a planned 24/7 platform for managing tokenized collateral. Fidelity International launched a tokenized liquidity fund using Chainlink and Sygnum infrastructure that month. JPMorgan provides daily net asset value data for pricing the fund. LINK gained more than 34% over the past month. LINK traded at around $11.07 on Wednesday, according to CoinGecko data.