#stablecoin
After the Bitcoin Reserve boom in the US has calmed down, another boom is starting. The stablecoin trend that Donald Trump is getting involved in. With the US government soon to introduce new stablecoin laws, everyone wants to issue a stablecoin. With Donald Trump saying that stablecoins will encourage USD to strengthen, WLFI, a DeFi platform belonging to Trump, has released a USD stablecoin named USD1 and it is known that it will enter the market soon.
In addition, the Fidelity conglomerate, which manages up to $4.9 trillion, has announced that it will launch its own stablecoin, which will run on the Ethereum blockchain.
Fidelity expects their stablecoin to compete with the big date stablecoins like USDT and $USDC , so the battle of stablecoins including PayPal's PYUSD could be tougher.
Not only large conglomerates like Fidelity are interested in issuing stablecoins.
The state of Wyoming, a US state, has also announced the release of a state-owned stablecoin. The Wyoming Stable Token Act has been created by the Wyoming Stable Token Commission, and testing will begin in the next few weeks.
It is set that the token will be released officially in the month of July, and it is not known for sure what name it will be released and how it will operate. Wyoming's announcement that it will issue a stablecoin may be just the beginning, and other states may soon announce the issuance of state-owned stablecoins.