#WYST稳定币 The state of Wyoming, USA, announced the launch of the nation's first state-level stablecoin $WYST in July 2025, pegged 1:1 to "dollars + short-term government bonds", focusing on regulatory transparency and blockchain-native payments, aiming to cover government scenarios such as tax payments and subsidy distributions. Compared to the private models of USDT/USDC, state government endorsement may become a new compliance benchmark, but significant challenges remain:

1️⃣ Liquidity fragmentation: If states follow suit and launch independent stablecoins, cross-region payments may face friction;

2️⃣ Technical risks: Whether the government can ensure that the on-chain system is resistant to hacking attacks and runs on a stable basis still needs verification. This move continues Wyoming's strategy as a "pioneer in crypto policy" (such as the SPDI banking bill), and if successful, it may trigger a competition among states to seize the "digital finance" initiative (such as Texas potentially promoting energy-linked stablecoins), but it needs to balance innovation with systemic risks.