Wyoming's Stable Token Commission has adopted Chainlink Proof of Reserve to publish near-real-time onchain data on its FRNT stablecoin's reserves and supply. The state is also working to add Chainlink's Secure Mint feature, which would block new token issuance unless reserves cover the full supply.
The Wyoming Stable Token Commission said Wednesday it adopted Chainlink Proof of Reserve to publish verified data on FRNT's reserves and token supply onchain. The system pairs independent examinations by The Network Firm with Chainlink's oracle infrastructure to make the data available in near real time.
Wyoming already publishes daily reserve attestations for FRNT, while the GENIUS Act requires monthly disclosures of reserve composition and outstanding stablecoin supply. The commission said the integration will give more timely visibility into changes in FRNT's backing between reporting periods.
The commission is also working to adopt Chainlink's Secure Mint feature, which would require verified reserves to equal or exceed FRNT's total supply before new tokens can be minted. FRNT, launched in January, is backed by US dollars and short-term US Treasurys, with interest income from its reserves deposited into Wyoming's School Foundation Program.
Wyoming's move comes about two weeks after it fully migrated FRNT from LayerZero to Chainlink's Cross-Chain Interoperability Protocol, making CCIP the stablecoin's exclusive cross-chain infrastructure.
Chainlink expands institutional footprint
Chainlink has picked up several integrations across tokenized equities, stablecoin settlement and traditional financial market infrastructure in recent months. Most recently, it became the pricing-data provider for Coinbase's B20 tokenized equities following their August launch on Base, with feeds covering stocks including Apple, Nvidia, Meta and Alphabet.
In June, Chainlink joined European and South Korean banking groups in Project Pangea, exploring regulated euro- and won-denominated stablecoins for atomic foreign exchange settlement. Its push into traditional financial infrastructure has also included the Depository Trust and Clearing Corporation, which said in May it would integrate Chainlink technology into a planned 24/7 platform for managing tokenized collateral. That month, Fidelity International also launched a tokenized liquidity fund using Chainlink and Sygnum infrastructure, with JPMorgan providing daily net asset value data for pricing.
Chainlink's LINK token has gained more than 34% over the past month, trading at around $11.07 on Wednesday, according to CoinGecko data.
Source: Cointelegraph
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