Wyoming is set to launch the Wyoming Stable Token (WYST) in July 2025, marking a significant step in state-backed digital currency. WYST will be fully backed by U.S. Treasuries, cash, and repurchase agreements, ensuring a stable 1:1 peg to the U.S. dollar.
Authorized under the Wyoming Stable Token Act (2023), the initiative is overseen by the Wyoming Stable Token Commission. Currently, WYST is being tested on multiple blockchains, including Ethereum, Solana, and Avalanche, to ensure broad accessibility.
The revenue generated will fund education and infrastructure projects within the state. However, some policymakers, like U.S. Representative Tom Emmer, have raised concerns, comparing WYST to a state-controlled digital currency similar to a CBDC.
Despite debates, Wyoming’s move sets a precedent for other U.S. states exploring stablecoins as a financial tool. If successful, WYST could redefine state-level participation in the digital economy.
