#WYSTStablecoin The state of Wyoming is testing its stablecoin on multiple blockchains, state officials confirmed Wednesday.

Why it matters: As the U.S. government gets closer to passing laws establishing a legal framework for stablecoins, more entities are seeking to launch these instruments

Wyoming's is notable in that it comes from domestic government. And the coin, WYST, would be a flex by a state that has long embraced the crypto industry.

The widening race to develop stablecoins is being driven by the expectation of lessening regulatory friction, but Wyoming Gov. Mark Gordon yesterday said the state — which started this process with 2023 legislation — wants to be above all that.