<ul><li>Wyoming is set to launch the first fiat-backed stablecoin issued by a U.S. state called the Wyoming Stable Token (WYST). It will be fully backed by U.S. Treasuries, cash, and repurchase agreements.</li><li>WYST is currently being tested on multiple blockchain networks, including Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Coinbase’s Base. The testing phase is expected to continue through Q2, with a potential full-scale launch in July.</li><li>WYST aims to provide near-instant transactions at lower costs compared to traditional banking methods.</li><li>The stablecoin market has gained momentum with a total market value of nearly $230 billion, and institutions like Fidelity Investments and World Liberty Financial (WLFI) showing interest in developing their own stablecoins.</li></ul>

Wyoming to Launch First US State-Issued Stablecoin – What You Need to Know

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