Wyoming stablecoin WYST enters critical testing phase, governor says it is expected to go online in July

PANews reported on March 27 that according to an announcement issued by the Governor of Wyoming, the Wyoming Stable Coin Committee announced that its fiat currency-backed and fully reserved WYST stablecoin has entered the multi-chain testing stage 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. The testing is expected to continue until the second quarter of 2025 and is scheduled to be officially launched in July. Partners include LayerZero and Stargate. WYST will over-collateralize cash and U.S. bonds and inject interest into the state education fund.