Wyoming Eyes July Launch for First State-Issued Fiat-Backed Stablecoin 🌟
Wyoming is gearing up to become the first U.S. state to issue a publicly launched, fiat-backed stablecoin, named the Wyoming Stable Token (WYST). The announcement was made at the DC Blockchain Summit, highlighting a potential launch by July 2025.
The stablecoin is currently undergoing a multi-chain testing process on prominent blockchain networks, including Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Coinbases Base, enhancing its operability across various ecosystems.
Wyoming has teamed up with LayerZero, a blockchain interoperability provider, ensuring seamless cross-chain deployment. This move could set a precedent for other states considering similar digital currency initiatives.
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