Wyoming Stabletoken Commission Director "Stablecoins, the Core of the Virtual Asset Initiative"

Anthony Apollo, Executive Director of the Wyoming Stabletoken Commission, explained the reasons for the state's issuance of a stablecoin. He said it is the core of the virtual asset initiative.

At the '2025 Asia Stablecoin Conference' held in Seoul on the 25th, Anthony, Director of the Wyoming Stabletoken Commission, said in the 'Digital Assets for Public Goods' session presentation, "Wyoming, through proactive legislation, launched the United States' first state-issued stablecoin," and "the stablecoin can be purchased and redeemed for $1, and is collateralized by conservative assets such as short-term U.S. Treasury securities."

He cited strengthening digital asset cohesion, offering fully reserved financial products, and diversifying state revenue as reasons for the state's launch of a stablecoin. He said, "Stablecoins are the key asset that ties Wyoming's virtual asset initiative together," and "through this we aim to offer new financial products with 100% reserves." Earlier, Wyoming had established a special-purpose depository institution (SPDI) to attempt something similar, but it was halted by regulations under the Biden administration.

He added, "Most of Wyoming's revenue depends on oil and gas," and "stablecoins could become a new source of revenue for the state."

He also emphasized that the state of Wyoming is actively participating in pro-virtual-asset movements. He elaborated, "Since 2016 we have proposed about 80 virtual asset and blockchain bills," and "there is also a law that prevents government agencies from forcibly requiring individuals to surrender their private keys."