⚡Pioneering stablecoin in Wyoming ⚡

🇺🇸 The state of Wyoming plans to launch its own cryptocurrency, the #WYST token, by July 2025, marking the first stablecoin backed by fiat currency issued by a U.S. entity.

📝 The token will be fully backed by Treasury bonds, cash, and repurchase agreements, with a capitalization requirement of at least 102%.

⛓️ Wyoming is exploring #Blockchain networks such as Solana, Ethereum, and Polygon to host the WYST token, with up to nine candidates to host its upcoming stablecoin.

🏆 For now, they have selected LayerZero, an omnichannel interoperability protocol, as the top-rated provider for smart contract development.

✍🏻 According to Anthony Apollo, executive director of the Wyoming Stable Token Commission, "In December we incorporated ongoing assessments, to reevaluate new networks or those that did not initially qualify, paving the way for a possible future expansion of the stable token to additional chains."