Wyoming is set to introduce its state-backed stablecoin by July, following an official partnership with LayerZero, a leading interoperability protocol. Governor Mark Gordon made the announcement at the DC Blockchain Summit on March 26, detailing the state’s innovative approach to blockchain technology.
Governor Gordon highlighted Wyoming’s proactive stance on blockchain adoption, asserting that the state has been at the forefront of integrating this technology into its operations. He emphasized that Wyoming’s efficient government approach has enabled this significant milestone.
Anthony Apollo, executive director of the Wyoming Stable Token Commission, confirmed that Wyoming stable tokens have already been deployed on various test networks. This marks a key step in the development process ahead of the stablecoin’s anticipated launch.
Apollo also revealed that LayerZero will serve as the sole partner for the token’s creation and distribution. Wyoming has long been recognized as a cryptocurrency-friendly state, with significant backing from local leaders, including Senator Cynthia Lummis.
The groundwork for this development was laid in 2022 with the passage of the “Wyoming Stable Token Act,” a law that enabled the creation of a state-issued stablecoin backed by the US dollar. The law, enacted in 2023, also established a dedicated team to oversee the project’s management and evolution.
Governor Gordon, who has expressed skepticism about traditional financial systems, particularly the “too big to fail” approach, initially proposed the stablecoin for launch in early 2025. The stablecoin will be supported by short-term US Treasury Bills.
In a recent suggestion, Apollo proposed managing Wyoming’s public budget using blockchain technology, aiming to increase transparency in state spending. This bold move positions Wyoming as a leader in blockchain adoption, with the stablecoin poised to streamline and enhance the efficiency of government operations.
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