Wyoming's Stablecoin Launch On Track For July With LayerZero Partnership

Wyoming Governor Mark Gordon has announced that the state-issued stablecoin is on track for a July debut. This development comes as the state partners with protocol LayerZero to launch the token. Governor Gordon highlighted Wyoming's swift adoption of blockchain technology during his speech at the DC Blockchain Summit, praising the state government's efficiency in advancing the Wyoming stablecoin initiative.

The executive director of the Wyoming Stable Token Commission, Anthony Apollo, provided an update on the Wyoming stablecoin. He confirmed that LayerZero will assist in the development and distribution of the state's stablecoin. Apollo also mentioned that several Wyoming stable tokens are currently being tested on various testnets. "The Stable Token Commission has formally engaged LayerZero as our token development and distribution partner, and we have stable tokens — Wyoming stable tokens — on several test networks," Apollo stated.

Wyoming has been at the forefront of digital asset adoption, with the state's senator backing crypto-friendly policies. The Bitcoin Act, which aims to make the Strategic Bitcoin Reserve part of the law, has been reintroduced. This bill, along with the senator's participation in crypto-focused gatherings, signals Wyoming's readiness for blockchain adoption.

The Wyoming Stable Token Act, introduced in February 2022, paved the way for the creation of a state-issued stablecoin. According to the Act, the coin or coins will be pegged to the US dollar and will be exchangeable with fiat currency. A development team comprising technical experts, accountants, and auditors was formed to manage the stablecoin's development and distribution after the Act was signed into law in March 2023.

Governor Gordon had initially announced the stablecoin's launch in Q1 2025, but the development process has taken longer than anticipated. During the Wyoming Blockchain Symposium in August 2024, Gordon mentioned that the launch would be supported by US Treasury Bills and repurchase agreements. The Stable Token Commission has since expanded its staff to include industry executives and government officers to conduct research on stablecoin development.

In his speech, Governor Gordon criticized the US economic strategy of "too big to fail," using the post-2008 financial crisis as an example. He also criticized the Federal Reserve Bank, framing it as "a drag on innovation." Anthony Apollo emphasized the importance of transparent and efficient handling of the state budget, suggesting that an on-chain budget could solve such problems.

The launch of Wyoming's stablecoin marks a significant step in the golden age of crypto adoption. As more states and governments integrate crypto into their systems, digital assets are poised to become international currencies. The decentralization of economic systems has begun and is expected to accelerate in the coming years, with more innovation and progress on the horizon. The future of the crypto industry appears bright, with Wyoming leading the way in state-backed digital assets.