Wyoming's stablecoin WYST enters critical testing phase, governor says it's expected to go live in July

Odaily News According to an announcement issued by the Governor of Wyoming, the Wyoming Stablecoin Committee announced that its fiat-backed, fully-reserved WYST stablecoin has entered the multi-chain testing phase and is deployed on test networks such as Avalanche, Solana, and Ethereum. WYST is issued by a public entity and is the first such project in the United States. Testing is expected to last until the second quarter of 2025, and it is planned to be officially launched in July. Partners include LayerZero and Stargate. WYST will be overcollateralized by cash and U.S. Treasury bonds, and the interest will be injected into the state education fund.