Wyoming has begun testing its state-issued stablecoin WYST across multiple blockchain networks.
The stablecoin is over-collateralized with cash and U.S. Treasuries, and interest from reserves will support Wyoming’s School Foundation Fund.
The State of Wyoming has officially launched the first state-affiliated stablecoin, the Wyoming Stable Token (WYST), on multiple blockchains. This is a major advancement, as Wyoming is the first state in the United States to offer a fiat-backed and reserve-created stablecoin.
Wyoming officials disclosed the testing phase during the official fireside chat at the DC Blockchain Summit on March 26. Governor Mark Gordon, who also chairs the Stable Token Commission, noted the stable leadership Wyoming is taking in advocating for the legalisation of digital assets. Speaking to Executive Director Anthony Apollo, he confirmed that WYST has been deployed on the Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Base testnets using valueless t
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