Wyoming's Stable Token Commission has fully migrated its state-backed Frontier Stable Token off LayerZero and onto Chainlink's Cross-Chain Interoperability Protocol, citing a security review. LINK rose more than 3% to $9.70 on the news, adding to CCIP's $33 trillion in processed transaction value.
Wyoming Cites Security Review in Switch
The Wyoming Stable Token Commission has said it fully migrated its state-backed digital asset, the Frontier Stable Token (FRNT), off LayerZero and adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its exclusive cross-chain infrastructure. The switch followed a security review that raised concerns about LayerZero's operational security and disclosure practices, prompting the Commission to deprecate the original implementation.
Bitgo swapped its own LayerZero infrastructure for CCIP less than two weeks earlier. Anthony Apollo, Executive Director of the Wyoming Stable Token Commission, said Chainlink CCIP was the only cross-chain infrastructure that met the Commission's security and reliability requirements.
LINK Extends Weekly Gains
Chainlink's LINK token briefly pushed back to $9.70 after the announcement, breaking out of its post-August 15 drift above $9.40. The move lifted daily gains past 3%, restoring the token's double-digit advance over the past week.
Wyoming launched FRNT as a fiat-backed, fully reserved digital asset to support payments and settlement for individuals, businesses, and public-sector entities. Following a November 2023 recommendation, the stablecoin now runs across eight public blockchains: Arbitrum, Avalanche, Base, Ethereum, Hedera, Optimism, Polygon, and Solana.
CCIP's Track Record and Reach
Chainlink CCIP provides cross-chain transfer functionality built on a defense-in-depth security model, including SOC 2 Type 2 institutional certification and validation by a minimum of 16 independent node operators. The protocol runs on the same oracle infrastructure that has enabled over $33 trillion in transaction value across decentralized finance and traditional financial institutions.
State officials said the migration offers a blueprint other state governments, financial institutions, and asset managers can follow to issue regulated tokens while meeting institutional security standards.
Source: Wyoming Stable Token Commission
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