Wyoming to Launch First U.S. State-Issued Stablecoin ‘WYST’ in July
News 2025-03-28

Governor Mark Gordon Announces Official State Stablecoin

On March 27, Wyoming Governor Mark Gordon revealed at the DC Blockchain Summit that the state will launch its own stablecoin, "WYST," in July 2025. This will mark the first stablecoin issued by a U.S. state government, backed by U.S. Treasuries and cash reserves.

🔹 WYST – A New Model for State-Issued Stablecoins

✅ 1:1 Backed by U.S. Dollars – WYST will be pegged to the U.S. dollar and backed by over 100% reserves, including:

  • U.S. Treasuries
  • Cash
  • Repo Agreements

✅ 2% Extra Reserves – To enhance stability and security.

✅ Primary Revenue Source: Treasury Interest

Unlike private-sector stablecoins that rely on transaction fees, Wyoming plans to generate income from U.S. Treasury yields.

🌟 Revenue Allocation for Public Benefits

Wyoming will reinvest stablecoin revenues into key sectors:

🏫 Education

🏗 Infrastructure

🐄 Agriculture & Ranching

Wyoming, historically reliant on coal, oil, and natural gas, aims to diversify its economy through digital assets.

🔹 Where Will WYST Be Issued? Blockchain Candidates

Wyoming officials are evaluating three major blockchain platforms for WYST issuance:

  • Solana
  • Ethereum
  • Polygon

The final decision will depend on security, scalability, and transaction efficiency.

🔹 Wyoming’s Push for Crypto Leadership

🚀 Governor’s Pitch to JPMorgan CEO

Governor Gordon previously invited JPMorgan CEO Jamie Dimon to consider launching stablecoins in Wyoming, citing the state’s clear regulatory framework.

⚖ Wyoming’s Crypto Regulations & Challenges

  • Since 2016, the state has passed 45+ crypto-related laws and attracted 1,000+ crypto companies.
  • However, returns have been lower than expected – Wyoming invested $2 million in crypto initiatives but only generated $47.3 in returns in 2023.
  • In early 2024, lawmakers rejected a state-level crypto reserve fund, citing high risks.

🔹 The Future of State-Issued Stablecoins

Wyoming’s WYST initiative could pave the way for other U.S. states to explore state-backed digital currencies. However, questions remain:

❓ Will federal regulators approve a state-issued stablecoin?

❓ Can WYST compete with private stablecoins like USDT, USDC, and PYUSD?

❓ Will other crypto-friendly states (e.g., Texas, Florida) follow suit?

🔥 If successful, WYST could set a new standard for digital finance in the U.S. Stay tuned for further developments!