The Wyoming Stable Token Commission has partnered with analytics provider Inca Digital on its forthcoming state-backed Wyoming Stable Token (WYST). WYST is said to be “the first fully-reserved, fiat-backed stable token issued by a U.S. public entity.” The asset will be fully backed by U.S. Treasurys, cash, and repurchase agreements. “The Commission’s goal is to enhance financial transparency and drive economic growth for the state, fortifying Wyoming’s position as a national leader in digital assets,” it wrote. Inca will provide real-time risk management solutions and other analytics services. “This collaboration will bolster the Commission’s ability to monitor and mitigate risks related to fraud, money laundering, and market anomalies, ensuring the safety and integrity of WYST for its users,” the commission wrote. Executive Director of the Wyoming Stable Token Commission Anthony Apollo said. “By leveraging Inca’s industry-leading intelligence tools, we are reinforcing our promise to deliver a trustworthy digital asset for Wyoming and beyond.” State authorities hope the token will enable “near-instant, dollar-denominated transactions worldwide” while offering “significantly lower fees compared to traditional financial systems.” At launch, WYST will be the first stablecoin directly issued by a government.