Wyoming Announces U.S. State-Backed Cryptocurrency Launch

Wyoming is set to launch WYST, the first U.S. state-backed stablecoin, as early as July 2025. Announced by Governor Mark Gordon at the DC Blockchain Summit, the new digital currency will be fully backed by U.S. Treasuries, cash, and repurchase agreements, ensuring a minimum capitalization of 102%. The state is also evaluating whether to deploy the initiative on Solana, Ethereum, or Polygon, a decision that will significantly affect the project’s operation and functionality. This move marks a significant step in integrating blockchain technology with mainstream finance and is being closely watched by both the crypto community and financial regulators, potentially setting a precedent for other states to follow.