Wyoming Partners with LayerZero for First State-Issued Stablecoin
Wyoming Partners with LayerZero for First State-Issued Stablecoin
🤠 Wyoming Goes Full Crypto
Wyoming has selected LayerZero as its technology partner to launch WYST, marking a historic milestone as the first fiat-backed stablecoin issued by a U.S. public entity.
Key details:
- WYST will be fully-reserved and state-backed
- Initial deployment on Avalanche + 6 other chains
- Utilizes Stargate's interface for cross-chain transfers
- Part of growing network with 1,000+ tokens across 70+ chains
The Wyoming Stable Token Commission has successfully demonstrated cross-chain transactions between Avalanche and Ethereum networks, showcasing the practical implementation of this groundbreaking state-backed digital currency initiative.
Wyoming has chosen @LayerZero_Core as the token issuance partner for WYST, the first fiat-backed and fully-reserved stablecoin issued by a public entity in the United States. Dollars are coming onchain. Stargate is how they will move.
At today's DC Blockchain Summit hosted by the @DigitalChamber, @GovernorGordon & Executive Director @wyoapollo announced that the Commission has partnered with @LayerZero_Core for development of the WYST stable token. Details have been announced here: content.govdelivery.com/accounts/WYGOV…
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