#WYSTStablecoin

The State of Wyoming has officially begun testing its state-issued stablecoin, called the Wyoming Stable Token (WYST), across several blockchain networks. This is potentially the first fiat-backed and fully reserved stablecoin issued by a US public entity.

The announcement was made on March 26, with Wyoming officials sharing more details during a fireside chat at the DC Blockchain Summit.

Wyoming Governor and Stable Token Commission Chairman Mark Gordon and Executive Director Anthony Apollo discussed the state’s leadership in blockchain regulation and digital asset innovation.

Apollo confirmed that WYST has been deployed on testnets for Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Base, using valueless tokens for initial testing.

WYST is designed to comply with statutory requirements that mandate over-collateralization using cash and US Treasuries. Interest generated from these reserves will be deposited into Wyoming’s School Foundation Fund, reinforcing a broader state-level utility for the initiative.