#WYSTStablecoin

The state of Wyoming is making steady progress towards launching its state-backed stablecoin, known as "Wyoming Stablecoin" (WYST). WYST is expected to launch in July 2025 and will be cash-backed at a 1:1 ratio with the US dollar, with reserves including cash, US Treasury bonds, and repurchase agreements, with capital requirements reaching 102% to ensure stability and transparency.

Wyoming is collaborating with LayerZero to issue WYST, enabling interoperability across various blockchains. Currently, the currency is being tested on experimental networks including Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Base.

This project demonstrates Wyoming's commitment to innovation in the field of digital currencies and may serve as a model for other states in the United States. As discussions continue regarding the regulation of digital currencies at the national level, the launch of WYST highlights the role of states in shaping the future of digital finance.

For more information and updates about WYST, you can visit the official website launched by the Wyoming Stablecoin Committee (STC), the body responsible for issuing and overseeing the currency.