CandleFocus Wyoming seeks developers for state-backed stablecoin
2024-12-09
Author: Content Editor
The State of Wyoming is seeking blockchain developers to assist in the creation of its government-issued stablecoin currency. The Wyoming Stable Token Commission has released Requests for Qualification to attract talent for its stablecoin initiative, known as "Project WYST." Stablecoins are digital currencies that trade with a 1:1 dollar parity, allowing users to utilize U.S. dollars in blockchain markets and decentralized finance platforms. The state of Wyoming aims to launch its stablecoin, which may operate on the Ethereum or Solana networks, and it will be backed by one U.S. dollar held in trust by the state. Wyoming has positioned itself as a leader in web3 technologies and has implemented supportive regulations for decentralized autonomous organizations (DAOs) and self-custody of cryptocurrencies.
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