#WYSTStablecoin The state of Wyoming has announced plans to launch its own stablecoin, called WYST, in July of this year. This token will be fully backed by cash, U.S. Treasury bonds, and repurchase agreements, with a minimum over-collateralization of 102%, aiming to ensure its stability and reliability in the market.

WYST is being tested on multiple blockchain platforms, including Ethereum, Solana, and Avalanche, in collaboration with the interoperability firm LayerZero. This testing phase will continue until the second quarter of 2025, with the goal of an official launch in July.

Wyoming's entry into the stablecoin market could have significant implications for the cryptocurrency ecosystem and financial regulations in the United States. By being the first state to issue a fiat-backed stablecoin, Wyoming sets a precedent that could influence future state and federal initiatives related to digital currencies.