The U.S. state of Wyoming is implementing near real-time on-chain reserve verification for its state-issued Frontier Stable Token through an expanded integration with the Chainlink blockchain oracle network.
Wyoming's Stable Token Commission announced on Wednesday that it has deployed Chainlink Proof of Reserve to publish verified data on FRNT reserves and supply on-chain. The system combines independent verifications performed by The Network Firm with Chainlink's infrastructure to make the data available in near real-time.
Wyoming already publishes daily confirmations of FRNT reserves, while the GENIUS Act requires monthly disclosures of reserve composition and the volume of issued stablecoins. The Commission stated that the integration will provide more timely tracking of changes in FRNT's backing between reporting periods.
The Commission is also working on implementing Chainlink's Secure Mint function, which will require that verified reserves are not less than the total FRNT supply before new tokens can be issued.
FRNT, launched in January, is backed by U.S. dollars and short-term U.S. Treasury bills, with interest income from its reserves transferred to the Wyoming School Fund Program.
This comes roughly two weeks after Wyoming fully migrated FRNT from LayerZero to the Chainlink Cross-Chain Interoperability Protocol (CCIP), making CCIP the token's sole cross-chain infrastructure.
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Chainlink Cements Position Among Institutional Players
Over recent months, Chainlink has completed several integrations in the fields of tokenized stocks, stablecoin settlements, and traditional financial market infrastructure.
Most recently, Chainlink became the price data provider for tokenized stocks within Coinbase's B20 token following their August launch on Base. The data feeds cover stocks like Apple, Nvidia, Meta, and Alphabet, enabling DeFi protocols to price the tokens for purposes such as lending, trading, and collateral.
In June, Chainlink joined European and South Korean banking groups in Project Pangea, which explores the use of regulated stablecoins denominated in euros and won for atomic settlement of foreign exchange transactions between the two regions.
Chainlink's entry into traditional financial infrastructure also included collaboration with The Depository Trust & Clearing Corporation (DTCC), which in May stated it would integrate Chainlink's technology into its planned 24/7 platform for managing tokenized collateral. In the same month, Fidelity International launched a tokenized money-market fund using Chainlink and Sygnum's infrastructure, with JPMorgan providing daily net asset value data for pricing.
According to CoinGecko, Chainlink's native token $LINK has risen over 34% in the past month and was trading around $11.07 on Wednesday.
$LINK has risen roughly 34% over the past month. Source: CoinGecko
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