#WYSTStablecoin

WYST is a state-backed stablecoin Wyoming’s cooking up, set to launch around July 2025. It’s pegged to the U.S. dollar 1:1, backed by solid stuff like cash, U.S. Treasury bonds, and repurchase agreements—over-collateralized at 102% to keep it steady. The idea’s to make it a reliable digital dollar that doesn’t bounce around like Bitcoin. They’re testing it now on big blockchains like Ethereum, Solana, and Avalanche, using LayerZero tech to let it hop between chains smoothly. The state’s planning to use the interest from those reserves to fund schools and infrastructure, which is a pretty neat twist.

Wyoming’s been all about crypto for a while, and this is their latest move to flex that. Governor Mark Gordon’s hyped about it, saying it could help farmers and ranchers tap new markets with fast, cheap transactions. Some folks, like Rep. Tom Emmer, aren’t sold—calling it a sneaky state-run digital currency—but the team behind it swears it’s not a CBDC (central bank digital currency) since it’s not straight-up cash from a central bank. Either way, it’s a bold experiment, and if it works, other states might jump on the bandwagon. Testing’s rolling through mid-2025, so we’ll see how it shakes out!