#WYSTStablecoin O Wyoming Stable Token (WYST) is a forthcoming stablecoin initiative backed by the state of Wyoming, aimed at providing a digital currency pegged 1:1 to the US dollar. Each WYST token will be fully backed by reserves comprising US dollars, Treasury securities, and repurchase agreements, ensuring stability and trust.

Scheduled for launch in July 2025, the WYST will initially operate on multiple blockchain networks, including Ethereum, Solana, Avalanche, and various Ethereum scaling solutions such as Base, Polygon, Arbitrum, and Optimism.

The Wyoming Stable Token Commission, established under the Wyoming Stable Token Act of 2023, oversees this initiative. The commission has been actively recruiting blockchain developers and financial experts to support the project's development, with application deadlines previously set for December 12, 2024.

Governor Mark Gordon emphasized Wyoming's commitment to innovation in the digital asset space, highlighting that the WYST will enable nearly instant, low-fee transactions denominated in dollars globally.

This pioneering effort positions Wyoming as the first state in the US to issue its own stablecoin, potentially setting a precedent for other states to explore digital currency solutions.