Wyoming Partners with Inca Digital to Secure State-issued Stablecoin

The Wyoming Stable Token Commission has announced a strategic partnership with Inca Digital Federal LLC to bolster the security and risk management of its forthcoming state-issued stablecoin. This collaboration is a significant move towards ensuring the stability and reliability of the Wyoming Stable Token (WYST), which is set to launch publicly in July 2025.

Currently, WYST is undergoing testing on various blockchain networks. The stablecoin is designed to maintain a 1:1 peg with the U.S. dollar and will be backed by a combination of cash, U.S. Treasuries, and repurchase agreements. The primary goal of WYST is to offer a secure and cost-effective alternative to traditional payment systems, enabling near-instant global transactions with reduced fees.

Last year, Wyoming opened applications for blockchain developers to build the stablecoin. The Wyoming Stable Token Commission issued Requests for Qualification to attract candidates for roles across token development, reserve management, and on-chain analysis. This initiative underscores Wyoming's commitment to fostering innovation in the digital asset space.

Under the partnership, Inca Digital will provide the Commission with essential tools such as market intelligence, real-time analytics, and threat detection. These tools are aimed at preventing fraud, money laundering, and other market risks, thereby enhancing the overall security of the stablecoin.

The collaboration between Wyoming and Inca Digital is part of a broader effort to establish a national standard for public-sector digital assets. This partnership reflects Wyoming's ambition to lead the way in setting benchmarks for transparency, security, and innovation in the digital asset sector.

Anthony Apollo, Executive Director of the Commission, emphasized the significance of this partnership, stating, “This partnership with Inca Digital marks a critical step in our commitment to transparency, security, and innovation.” Founded under the Wyoming Stable Token Act in 2023, the Commission is the first U.S. public body to issue a fully-reserved stablecoin.

Inca Digital CEO Adam Zarazinski described the state’s initiative as “a standard-setting moment” for digital assets in the public sector. This collaboration is expected to set a precedent for other states and public entities looking to issue stablecoins, ensuring that they adhere to the highest standards of security and transparency.