# State of Wyoming Launches A Stablecoin *Frontier Stable Token (FRNT), the first state-issued stablecoin, is now live on Ethereum mainnet and six additional networks.* By [ETH Daily](https://ethdaily.io) · 2025-08-20 news, 2025, august2025 --- Quick Take ---------- * Wyoming launches a stablecoin. * Spire Labs introduces Pylon. * Circle Gateway goes live. * SharpLink buys 143k ETH. * * * [ State of Wyoming Launches A Stablecoin -------------------------------------- Listen to this episode from ETH Daily - Ethereum News on Spotify. The State of Wyoming launches a stablecoin. Spire Labs introduces Pylon. Circle Gateway goes live on mainnet. And SharpLink buys an additional 143k ETH. Read more: https://ethdaily.io/765 Disclaimer: Content is for informational purposes only, not endorsement or investment advice. https://spotify.com ![](https://storage.googleapis.com/papyrus_images/765ded548821d59b5d49125b75678bf7.jpg) ](https://open.spotify.com/episode/39qRb1HVjJ2O4Z0iHBhqAl) * * * State of Wyoming Launches Stablecoin ------------------------------------ The Wyoming Stable Token Commission [launched](https://content.govdelivery.com/accounts/WYGOV/bulletins/3ee734a) the Frontier Stable Token (FRNT) on mainnet, marking the first state-issued stablecoin in the United States. FRNT is fully backed by U.S. dollars and short-duration treasuries held in trust, with a legislatively mandated 2% overcollateralization to ensure stability. The stablecoin is now live across seven blockchains, including Ethereum, Arbitrum, Base, Optimism, and Polygon. It leverages LayerZero for issuance, with Fireblocks providing infrastructure and Franklin Advisers managing reserves. The Commission is chaired by Wyoming Governor Mark Gordon. Spire Labs Introduces Pylon --------------------------- Spire Labs [introduced](https://x.com/Spire_Labs/status/1957804832276038080) Pylon, a platform for launching based appchains with synchronous composability. The based appchains are sequenced by an Ethereum L2, allowing them to inherit an L2’s existing infrastructure, such as chain liquidity, user base, and distribution. The system currently uses a single coordinating sequencer node to synchronize all appchains in a sync zone. Pylon solves the fragmentation problem of appchains by preserving sovereignty while integrating with L2 ecosystems. Spire Labs is building the Based Stack, an open-source framework for customizable Ethereum appchains, pushing forward scalability and interoperability. Circle Gateway Goes Live ------------------------ Circle Gateway, a new cross-chain liquidity solution for USDC, is [now live](https://www.circle.com/blog/circle-gateway-redefining-crosschain-ux) on mainnet across seven networks. Circle Gateway introduces a unified USDC balance that can be accessed from any supported chain, enabling near-instant, single-click cross-chain transfers without the need for bridging. By making USDC liquidity chain-agnostic, Circle Gateway improves capital efficiency and eliminates liquidity fragmentation. To use it, users deposit USDC into a Gateway Wallet contract on any supported chain. To initiate a transfer, users sign a burn intent and submit it to the Gateway API. After verification, the API issues an attestation, which is then sent to the Gateway Minter contract on the destination chain, allowing USDC to be minted while the equivalent amount is burned from the unified balance. ### **Sharplink Buys Another 143k ETH** SharpLink Gaming [expanded](https://investors.sharplink.com/sharplink-reports-total-eth-holdings-climb-to-740760-as-of-august-17-2025-raised-537-million-in-net-proceeds-for-week-of-august-10-august-15-2025-2/) its treasury with an additional 143,593 ETH purchased at an average price of $4,648. The purchase brings the company’s total holdings to 740,760 ETH, valued at just over $3 billion. Since its launch on June 2, SharpLink has also generated 1,388 ETH in staking rewards. Despite the growth, Bitmine Immersion Tech continues to hold the top spot as the largest ETH treasury company, maintaining nearly double the holdings of SharpLink. **Other News** -------------- * Nethermind [introduces](https://github.com/NethermindEth/Catalyst) Catalyst * Starknet decentralized validation [upgrade](https://community.starknet.io/t/snip-33-proposal-for-starknet-decentralized-validation/115811) * Boundless [introduces](https://x.com/boundless_xyz/status/1957498468093587905) ZK Coin * Bitmine [buys](https://x.com/WhaleInsider/status/1957856134301176001) 52k more ETH * Solidity Summit 2025 [in Argentina](https://x.com/solidity_lang/status/1957748734328209558) * SEC in Chicago on [September 15th](https://x.com/ethdaily/status/1957923789058240550) * SEC Chair Paul Atkins [proposes](https://x.com/SECPaulSAtkins/status/1957902141005390029) a framework * * * Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed. --- *Originally published on [ETH Daily](https://ethdaily.io/765)*