#WYSTStablecoin
Investing.com — Wyoming is planning to launch its own cryptocurrency, called WYST, as early as July 2025. This marks the first state-backed stablecoin to be issued by a U.S. entity. The announcement was made by Governor Mark Gordon during the DC Blockchain Summit in Washington, DC.
The WYST will be fully backed by U.S. Treasury securities, cash, and repurchase agreements, maintaining a minimum capitalization of 102%. This approach aims to legitimize and promote the adoption of cryptocurrencies.
The state of Wyoming is currently considering whether to host this digital currency initiative on the Solana, Ethereum, or Polygon blockchains. This decision has not yet been made and will have a significant impact on the operation and functionality of WYST.
The introduction of a state-backed cryptocurrency is an important milestone in the adoption and acceptance of digital currencies in the U.S. With Wyoming leading the way, this could potentially set a precedent for other states to follow in the future.
The launch of WYST is part of a broader trend towards the integration of blockchain technology and digital currencies into the conventional financial system. As the first state-backed stablecoin, WYST will be closely watched by both the crypto community and financial regulators.
