TL;DR
- Wyoming launches WYST, the first U.S. public stablecoin fully backed by U.S. dollars, Treasury bonds, and repurchase agreements.
- The token will feature real-time monitoring from Inca Digital to prevent fraud and money laundering on its network.
- WYST aims to become a safe, efficient option for instant, low-cost digital transfers worldwide.
Wyoming makes headlines again in the crypto market with the launch of WYST, a public stablecoin backed by traditional financial assets.
This new digital token is fully secured by U.S. dollars, Treasury bonds, and repurchase agreements, ensuring price stability and eliminating the risk of sudden value swings.
On the @consensus2025 Summit stage, Joseph Saldana, CFO @wyostable, confirmed the launch of their stable token:
"We're looking to launch $WYST around the July 4 timeframe." 🇺🇸 pic.twitter.com/GsasFMwEek
— CoinDesk (@CoinDesk) May 14, 2025
Unlike most stablecoins controlled by private companies. WYST is issued by a public entity under the legal framework of the Wyoming Stable Token Act, approved in March 2023. This regulation requires full backing with liquid, secure assets, guaranteeing that every token in circulation has an equivalent reserve available. The goal is to offer a reliable, fast, and low-cost digital tool for moving U.S. dollars globally.
To safeguard the system’s integrity, the state established a partnership with Inca Digital. A firm specialized in transaction analytics and risk monitoring. This agreement will enable real-time detection of suspicious activity and help prevent financial crimes like money laundering and fraud, both persistent threats in digital markets.
Wyoming Is Already Testing Its Stablecoin on Multiple Blockchains
The token is currently being tested on several blockchain testnets, with a public launch expected for the summer of 2025. If completed, Wyoming would become the first U.S. state to issue a fully backed public stablecoin. — A move that could set the stage for similar initiatives nationwide.
Stablecoins have become key players in everyday transactions. Their ability to function as high-speed digital checking accounts has driven their transaction volumes to more than triple those of Bitcoin. Meanwhile, Bitcoin has settled into its role as a store of value, more vault than wallet.
Wyoming aims to seize this trend and provide a secure, transparent option for digital dollar use.
