Mark Gordon Reacts: Wyoming Stable Token Set for July Debut — Is This the First Real State-Backed Crypto?

Mark Gordon, the Governor of Wyoming, has announced that the state-issued stablecoin may be ready in July of this year. The Stable Token Commission of Wyoming also announced that the state is partnering with protocol LayerZero to launch the token. Wyoming Governor Mark Gordon also spoke at the DC Blockchain Summit and pointed out the speed of Wyoming’s Blockchain adoption. He praised the state government because of its efficiency in progressing the Wyoming stablecoin initiative. 

Wyoming and LayerZero: Stablecoin Testing Begins

The executive director of the Wyoming Stable Token Commission, Anthony Apollo, also announced an update for this Wyoming stablecoin. He confirmed that LayerZero will assist with the Wyoming state stablecoin’s development and later distribution. This official also added that there are several Wyoming Stable tokens that will be tested on various testnets. “The Stable Token Commission has formally engaged LayerZero as our token development and distribution partner, and we have stable tokens — Wyoming stable tokens — on several test networks,” Apollo stated.

A Wyoming state Stablecoin has been in the making for years now, as this state has adopted digital assets very quickly. Wyoming Senator has also been backing crypto-friendly policies, such as reintroducing the Bitcoin Act. This bill will make the Strategic Bitcoin Reserve part of the law, making it more difficult to dismantle. Sen Lummis has also participated in several crypto-focused gatherings like the White House Crypto Summit. As such, by choosing a crypto-friendly Senator, the state of Wyoming signals that it is ready for blockchain adoption.

Wyoming Stablecoin Act — First State Stablecoin

The Wyoming Stable Token Act was introduced in February 2022 by Wyoming officials, leading to the creation of a state-issued Stablecoin. Based on this Act, the coin or coins will be pegged to the US dollar. Additionally, this currency will be available for exchange with fiat currency. A development team was also created, as the act was signed into law in March of 2023. This team was created from technical experts, accountants, and auditors who are tasked with managing the development and distribution of the Stablecoin.

Image 1 – Provided by Wyoming Legislature – published on TradingView, March 27, 2025

As the Act (Image 1) was passed into law, the Stable Token Commission expanded with new staff. These included industry executives and government officers, who conducted research on the process of Stablecoin development. However, the development seems to have taken more time than anticipated, as Governor Mark Gordon had announced the launch in Q1 2025. This announcement was made back in August 2024, when Gordon addressed the audience in the Wyoming Blockchain Symposium. He has also mentioned that such a launch would be supported by the US Treasury Bills and repurchase agreements.

From Crisis to Crypto: Mark Gordon Urges Blockchain Fix

In his speech, Wyoming Governor Mark Gordon also criticised the US economic strategy of “too big to fail”. He also mentioned the post-2008 financial crisis to disapprove of this view about the USA’s economy. The Federal Reserve Bank was also a victim of his critique, as he framed it as “a drag on innovation. Anthony Apollo has also stressed the importance of transparent and efficient handling of the state budget. He said that if this budget were On-chain, such problems would be solved.

Wyoming’s Stablecoin Marks the Crypto’s Golden Age

As exemplified in the case of the Wyoming state Stablecoin, the golden age of crypto adoption is here. As more states and governments adopt crypto into their systems, digital assets will become international currencies. The decentralisation of the economic systems has been kick-started and will likely accelerate in the coming years. With more innovation and progress to come, the future of the crypto industry seems bright.