According to Techub News, reported by The Block, the Wyoming Stable Token Committee has partnered with analysis provider Inca Digital to launch the state-backed Wyoming Stable Token (WYST). WYST is "the first fully reserved, fiat-backed stablecoin issued by a U.S. public entity." The Wyoming Committee will issue the WYST stablecoin under the Wyoming Stable Token Act passed in March 2023. The asset will be fully backed by U.S. Treasury securities, cash, and repurchase agreements. Inca will provide real-time Risk Management solutions and other analytical services. The WYST stablecoin is expected to launch in July.