Wyoming recently announced the testing of its state-issued stablecoin — WYST, marking the entry of the first stablecoin issued by a public entity in the United States into the experimental phase. WYST is currently being tested on the testnets of seven blockchains including Avalanche, Solana, and Ethereum, aiming to ensure its multi-chain compatibility. The stablecoin will be backed by cash and U.S. Treasury securities in excess, with the generated interest used to fund Wyoming's education fund. However, Charles Hoskinson, the founder of the Cardano blockchain, expressed dissatisfaction over its exclusion from the testing, reflecting the controversy surrounding the project's blockchain selection. Overall, the launch of WYST showcases Wyoming's innovation in the digital asset space, but its actual impact remains to be seen.