#WYSTStablecoin

The state of Wyoming is moving towards the launch of its own stablecoin, called Wyoming Stable Token (WYST), with a projected date of July 2025. This project would position Wyoming as the first state in the U.S. to issue a fiat-backed and fully reserved stablecoin.

Main features of the WYST:

Financial backing: Each WYST token will be backed by a combination of cash, U.S. Treasury bonds, and repurchase agreements, maintaining a capitalization requirement of at least 102%. This means that for every WYST issued, there will be approximately $1.02 USD in reserves, ensuring its stability and security.

Testing on multiple blockchains: The WYST is currently being tested on various blockchain platforms, including Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Base. These tests are being conducted in collaboration with LayerZero Labs, a firm specialized in blockchain interoperability.

Utility and benefits: Once launched, the WYST will allow holders to conduct transactions denominated in dollars of any value, anywhere in the world, almost instantly and with significantly reduced fees compared to traditional methods such as ACH or bank transfers. Additionally, the interest generated by the reserves will be allocated to the Wyoming School Foundation Fund, supporting public education in the state.