Wyoming is close to becoming the first U.S. state to issue its own stablecoin, the Wyoming Stable Token (WYST), which is set to debut in August. Although WYST won't initially offer a yield, future features may be included. The token aims to adhere to constitutional protections while resisting political pressure to act as a financial gatekeeper, which contrasts with pressures on federally backed central bank digital currencies (CBDCs). State Senator Chris Rothfuss expressed confidence that WYST can offer a yield, highlighting the state’s sovereignty compared to corporations that may freeze assets based on arbitrary reasons. Notably, WYST will be backed by U.S. Treasuries, establishing it as distinct from CBDCs. The Wyoming Blockchain Symposium will mark WYST's launch, and testing of its real-time payment capabilities is underway with the support of blockchain firms.

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