Wyoming is taking a groundbreaking step in state cryptocurrency regulation, aiming for a Q1 2025 launch of its own fiat-backed stablecoin, dubbed the Wyoming State Token (WST). This innovative digital currency will be fully backed by U.S. Treasury bills and repurchase agreements, ensuring stability tied directly to the U.S. dollar. Governor Mark Gordon, chair of the Wyoming Stable Token Commission, emphasized transparency and compliance throughout the project’s development. The initiative aims to provide a cost-effective and efficient payment method for businesses and individuals while generating revenue for the state through interest on reserve assets allocated towards public goods like schools.