#WYSTStablecoin

Exciting news in the stablecoin world! Wyoming is set to launch its state-backed stablecoin, WYST, in July 2025. This initiative marks a significant step as Wyoming aims to become the first U.S. state to issue its own digital currency.

WYST will be pegged to the U.S. dollar and fully backed by a combination of cash and U.S. Treasury securities, with a capitalization requirement of at least 102% for enhanced financial security. This over-collateralization aims to ensure stability and reliability for users.

The stablecoin will operate across multiple blockchain networks, including Ethereum, Solana, and Avalanche, promising seamless and low-cost transactions globally, potentially offering an alternative to traditional payment systems. Interest earned on the reserves will be directed to Wyoming's school foundation fund.

Currently undergoing multichain testing, WYST represents a pioneering effort in integrating blockchain technology with state finance and could inspire other states to explore similar avenues.