Wyoming Formally Moves To Launch What Could Be The First State-Issued Stable Token

The State of Wyoming has taken the first formal step toward launching what could be the country's first ever stable token issued by a U.S. state, marking a major breakthrough in the United States' transition to innovative digital payment solutions.

Anthony Apollo, the executive director of the Wyoming Stable Token Commission, announced at The Digital Chamber's DC Blockchain Summit 2025 event Wednesday that the commission has officially tapped leading interoperability protocol LayerZero to develop and distribute Wyoming's stablecoin, called WYST.

Wyoming leads the way

"As of today, the Stable Token Commission has formally engaged LayerZero as our token development and distribution partner, and we have stable tokens, Wyoming Stable Tokens (WYST) on several test networks already," Apollo revealed.

He went on to reveal that in the early stages of distribution, there were a total of seven "candidate blockchains" for the project.

Notably, Wyoming is represented by Sen. Cynthia Lummis, one of President Donald Trump's staunch allies, who is not only known to be pro-cryptocurrency but has also been pushing for a national strategic Bitcoin reserve.

Wyoming was popular for being one of the few U.S. states that showed openness to blockchain technology and digital innovation early on. Leading the way in stablecoin issuance is also a big step forward for the Cowboy State.

WYST is expected to officially launch sometime in July.

What is the $WYST?

As per a statement from Wyoming Gov. Mark Gordon's office last week, the WYST stablecoin "aims to revolutionize financial transactions and fortify Wyoming's leadership in blockchain innovation."

The stable token is designed to represent the U.S. dollar in a digital world. It is fully backed by U.S. Treasuries, cash, and repurchase agreements, Gordon's office said.

Wyoming is expected to generate new revenue streams once WYST is launched, via interest derived from reserve assets. The proceeds generated are then expected to be utilized "for funding education and infrastructure."

Wyoming governor lauds state's blockchain tech embrace

Gordon also attended the summit Wednesday, explaining that he believed part of the reason why his state was considered an early mover in blockchain adoption was due to Wyoming having "the right ecosystem for development."

He went on to reveal that back in 2016, eight years since Bitcoin was first introduced to a skeptical financial industry, some key figures in the blockchain space reached out to Wyoming legislators, presenting "a new opportunity."

"Wyoming is a place that people come to innovate. We don't like regulation very much. We believe that innovation trumps, forgive the phrase – regulation at every opportunity – but we make sure that we have a consistent role for proper and transparent regulatory structure," he said at the summit.

Originally published on IBTimes