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Wyoming adds Chainlink PoR
Wyoming is deepening its adoption of Chainlink for its state-issued stable token Frontier Stable Token (FRNT), with the Wyoming Stable Token Commission announcing Wednesday (Sept. 2) that it adopted “Chainlink’ Proof of Reserve.”
“announced Wednesday (Sept. 2) that it has “deepened its adoption of Chainlink to bring a new standard for reserve transparency by adopting Chainlink’ Proof of Reserve.””
The commission said the move builds on its recent migration to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as FRNT’s exclusive cross-chain infrastructure, described as “a critical upgrade to ensure secure-by-default infrastructure for Frontier Stable Token (FRNT).”
The GENIUS Act, adopted last year, requires monthly disclosure of “reserve composition and outstanding supply supported by independent examination of month-end reporting,” and the commission said monthly reporting provides only a “point-in-time” view.
PYMNTS reported that Wyoming already surpasses GENIUS by posting daily attestations on its website, and it framed the Chainlink Proof of Reserve adoption as combining independent examination with automated onchain verification.
In July, Governor Mark Gordon told Bloomberg News he is a “cautious adopter” focused on reliability, saying, “We’re not trying to be the fastest horse in the barn.”
Near-real-time reserve checks
The Wyoming Stable Token Commission said it adopted Chainlink Proof of Reserve to publish verified data on FRNT’s reserves and token supply onchain in near real time, combining independent examinations by The Network Firm with Chainlink’s infrastructure.
TradingView reported that 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 provide more timely visibility into changes in FRNT’s backing between reporting periods, and it is also working to adopt Chainlink’s Secure Mint feature.
Secure Mint, as described in the sources, would require verified reserves to equal or exceed FRNT’s total supply before new tokens can be minted, and the commission said FRNT was launched in January and is backed by US dollars and short-term US Treasurys.
Cryptonews.net quoted Anthony Apollo, Executive Director of the Wyoming Stable Token Commission, saying, “By adopting Chainlink Proof of Reserve as Wyoming’s exclusive onchain asset verification infrastructure, we’re providing transparent, verifiable confirmation that the Frontier Stable Token is fully backed by high-quality reserve assets.”
GENIUS baseline, Secure Mint
The sources frame Wyoming’s Chainlink Proof of Reserve adoption as meeting and exceeding the GENIUS Act’s federal baseline for stablecoin transparency, which mandates monthly disclosure of reserve composition and outstanding supply supported by independent examination of month-end reporting.
“The GENIUS Act establishes an important federal baseline for stablecoin transparency, requiring monthly disclosure of reserve composition and outstanding supply supported by independent examination of month-end reporting.”
PR Newswire said the commission already surpasses GENIUS by posting daily attestations on its website, and it described the Proof of Reserve integration as delivering verified reserve data onchain in near real time.
PR Newswire also said the commission is in the process of adopting Chainlink Proof of Reserve Secure Mint, which programmatically requires verified reserves to equal or exceed the total token supply before new tokens can be minted.
Cryptonews.net added that The Network Firm continues to examine FRNT’s reserve and token-supply balances under American Institute of Certified Public Accountants (AICPA) standards while Chainlink Proof of Reserve publishes verified reserve data onchain in near real time.
Chainlink Labs’ Johann Eid said the adoption “set a new U.S. standard for onchain reserve transparency in the United States with the adoption of Chainlink PoR,” positioning the change as a way for governments to deploy “trusted, fully-verifiable onchain financial infrastructure at scale.”