Wyoming plans to launch WYST, a state-issued stablecoin fully backed by US Treasury cash and repurchase agreements, aiming for a July launch.
This fiat-backed stablecoin, maintaining at least 102% capitalization, seeks to generate revenue for education and infrastructure through interest income from reserve assets.
The initiative marks a significant step towards cryptocurrency adoption by a US state, despite previous hesitation regarding state-level crypto reserves, and aims to provide new market opportunities for farmers and ranchers. Show Less
