Utah's Governor Cox Calls for State-Issued Stablecoin by End of Summer

WYOMING GOVERNOR ANNOUNCES PARTNER STATE STABLECOIN

CHEYENNE, WYOMING - Wyoming Governor Mark Gordon announced on Tuesday that the state is partnering with a leading fintech company to develop a new stablecoin, designed to facilitate secure and efficient transactions between the state and its vendors.

The new stablecoin, dubbed "WyomingCoin," is expected to reduce the costs and inefficiencies associated with traditional payment methods, such as wire transfers and checks. According to Governor Gordon, the new digital currency will also increase transparency and accountability in state transactions.

The announcement comes as part of a broader effort by the state to establish itself as a hub for fintech innovation. Wyoming has already attracted a number of major fintech companies, including Kraken and Coinbase, and has passed a number of laws aimed at supporting the development of blockchain technology.

"We are excited to partner with a leading fintech company to develop a new stablecoin that will benefit the state and its vendors," said Governor Gordon. "WyomingCoin will provide a secure, efficient, and cost-effective way for us to conduct transactions, and we believe it will be a game-changer for our state."

The new stablecoin is expected to be launched in the coming months, and will be designed to be compatible with a wide range of blockchain platforms. The state plans to use the new digital currency for a variety of transactions, including vendor payments and state employee compensation.

The announcement has been met with enthusiasm by state lawmakers and fintech industry professionals, who see it as a major step forward for Wyoming's fintech sector. "This is a huge win for Wyoming," said State Senator Tara Nethercott. "We are proud to be a leader in fintech innovation, and we believe that WyomingCoin will be a major driver of economic growth and job creation in our state."