The state of Wyoming has announced a partnership with Inca Digital to ensure the security of its upcoming stablecoin, the Wyoming Stable Token (WYST), which is set to launch in July 2025.
Backed 1:1 by U.S. Treasury bonds, cash, and repurchase agreements, WYST will become the first stablecoin issued by a public agency in the United States. The Wyoming Stable Token Commission will utilize Inca Digital’s advanced analytics and real-time risk management tools to monitor fraud, money laundering, and market anomalies.
Anthony Apollo, Executive Director of the Commission, highlighted the importance of the partnership, stating that it reflects their commitment to transparency, security, and innovation. Following pilot testing, WYST will be fully deployed in July, offering near-instant, low-cost U.S. dollar-denominated transfers globally. Known for its crypto-friendly regulations since 2018, Wyoming aims to strengthen its leadership in the digital finance space with this pioneering initiative.
