Recently, stablecoins make more noise than other assets, all due to the opening of the American president and his family towards the stablecoins. After the stages, large bulls like Fidelity also jumped the wagon and investors expect more stablecoin flooding the market within 2-3 months.
Taking the lead, Wyoming should make history with its own cryptocurrency, the stable Wyoming (Wyst) token. Should be launched by July 2025, this will be the first stablecoin supported by Fiat published by an American state. Unlike volatile cryptocurrencies, WYST will be entirely supported by the American treasury bills, money and buyout, ensuring stability and reliability. To guarantee security, the State requires a capitalization requirement of at least 102%.
Test on several blockchains
According to the Bloomberg report, state officials revealed during the DC blockchain summit that Wyst is currently tested on several blockchain networks, notably Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon and Coinbase. Wyoming has teamed up with Layerzero, a blockchain interoperability company, to ensure fluid and transparent integration on different networks. The test phase should continue until the second quarter of this year, with a large -scale potential launch in July.
Future updates will include other developments as the state is getting closer to the launch of the token.
Faster and cheaper transactions for users
Anthony Apollo, Executive Director of Wyoming Stable Token Commission, highlighted the potential advantages of WYST, emphasizing almost instantatic transactions at lower costs compared to traditional banking methods such as ACH or wire transfers. He said that personalization of the current intelligent contract is crucial to ensure a fluid and effective product for users.
The growing market of stablescoin
Under the direction of Trump, the stablecoins have become more powerful, with a total market value approaching $ 230 billion. These digital assets, generally set to the US dollar, have gained popularity for payments and funding. There is a growing demand for stablecoins, especially after Trump’s administration has shown their interest in the regulation of Stablescoin with new legislation advancing in the Congress.
Financial giants Eye Stablecoins
In addition, the increase is supported by many large institutions that are manifested to invest in the sector. Fidelity Investments would have explored the development of its own stablecoin, while World Liberty Financial (WLFI), a DEFI protocol with the support of President Donald Trump, also confirmed plans to enter the StableCoin market. The Wyoming Wyming token could open the way to other states and institutions to follow suit by adopting blockchain -based financial solutions.
Never miss a beat in the world of cryptography!
Stay in advance with the news, expert analysis and real -time updates on the latest Bitcoin, Altcoins, DEFI, NFTS, etc. trends
