PANews reported on May 14 that according to The Block, the Wyoming Stablecoin Committee announced a partnership with data analysis company Inca Digital on the upcoming state-backed stablecoin WYST. The stablecoin will be issued in accordance with the Wyoming Stable Token Act passed in March 2023, fully guaranteed by U.S. Treasuries, cash and repurchase agreements, and is known as "the first fully-reserved fiat stablecoin issued by a U.S. public entity." Inca Digital will provide the project with real-time risk management solutions and analytical services to monitor fraud, money laundering and abnormal market risks. Anthony Apollo, executive director of the committee, said the collaboration reflects a commitment to transparency, security and innovation. WYST is currently being piloted on multiple blockchain testnets and is scheduled to be fully launched to the public this summer.