Wyoming is creating its own U.S. dollar-backed stablecoin, the Wyoming stable token, which it plans to launch in the first quarter of 2025 to "give individuals and businesses a faster and cheaper way to transact while creating a new revenue stream for the state", reports CNBC.

Wyoming passed a bill, HB 57, creating the financial technology sandbox for the testing of financial products and services in Wyoming. It also authorizes limited waivers of specified statutes and rules under certain conditions; establishes standards and procedures for sandbox applications, operations and supervision; authorizes reciprocity agreements with other regulators; requires criminal history background checks; creates an account; requires a consumer protection bond; specifies standards for the suspension and revocation of sandbox authorization; and authorizes rules and orders.