StableTokens.com uses a four-stage classification framework to track state-backed stable token activity across all 50 U.S. states.
Classifications are based on publicly verifiable evidence from state legislatures, government agencies, commissions, state-owned institutions and official public programmes.
An officially authorised state-backed stable token has reached issuance or operational deployment through a state government, state agency, state-owned institution or other authorised public entity.
Current: Wyoming - Frontier Stable Token (FRNT), North Dakota - Roughrider Coin
A state-backed stable token has progressed beyond investigation and is being actively developed through an official state programme, state agency or state-controlled institution.
Current: No States Currently Classified
A state is formally examining the possibility of a state-backed stable token, but development or issuance has not yet been authorised.
Current: New Hampshire - Stable Token Study Commission
No verified public programme currently meets the StableTokens.com criteria for Launching / Live, In Development or Under Review.
StableTokens.com continues to monitor official activity across these states.
Related stablecoin, digital-currency or tokenisation initiatives may be documented for context without changing a state's core classification.
Current: 47 states
A qualifying initiative must have a substantive connection to a U.S. state government, state agency, state-owned institution or officially authorised public programme.
Stablecoin regulation, licensing of private issuers, general cryptocurrency legislation and private stablecoin activity do not by themselves qualify as a state-backed stable token programme.
This distinction allows the tracker to document important related developments without overstating their status.
StableTokens.com prioritises primary public sources, including legislation, government agencies, official commissions, state-owned institutions, government reports and programme documentation.
Where evidence is unclear, we favour the more conservative classification until stronger public evidence becomes available.
States change classification only when verified public evidence supports the change.
For our complete classification criteria, evidence standards, scope, corrections policy and editorial principles, see the StableTokens.com Editorial Standards.
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