Wyoming Partners with Inca Digital to Secure State-Issued Stablecoin

The Wyoming Stable Token Commission has partnered with Inca Digital to enhance fraud risk monitoring and security for the upcoming launch of the Wyoming Stable Token (WYST). Key points include:

Inca Digital will provide analytics and threat detection services.
The WYST will be the first fully-reserved, fiat-backed stable token issued by a U.S. public entity.
Testing is expected to continue until Q2 2025, with a potential launch in July 2025.
Wyoming has enacted over 35 laws since 2018 to support the crypto sector, attracting over 3,000 tech companies.
The WYST will be pegged to U.S. dollars and backed by U.S. treasuries, cash, and repurchase agreements.
The stablecoin market is currently valued at $245 billion, with projections suggesting it could reach $2 trillion within three years due to legislative support.