Wyoming Enlists Crypto Sleuths to Secure State-Backed Stablecoin

In a move that blends frontier spirit with blockchain pragmatism, Wyoming taps Inca Digital—a firm known for tracking illicit crypto flows—to audit its upcoming state-issued stablecoin. Because nothing says ’trust’ like hiring the digital equivalent of a Wild West sheriff.

The state doubling down on its ’Crypto Cowboy’ reputation aims to preempt the kind of meltdowns that plague private stablecoins. Inca’s forensic tools will monitor reserves and transactions, theoretically preventing a Terra-style collapse—unless politicians interfere, as they famously do.

While D.C. dithers on regulation, Wyoming’s playbook shows how states can lead. Just don’t expect Wall Street to notice until they’ve finished shorting the project first.

Inca Digital’s role

Under the partnership, Inca Digital will supply the Commission with market intelligence, real-time analytics, and threat detection tools to help prevent fraud, money laundering, and other market risks. 

The collaboration reflects Wyoming’s broader goal to set a national standard for public-sector digital assets.

We’re partnering with The Wyoming Stable Token Comission to support WYST, the first fully-reserved, fiat-backed stable token issued by a U.S. public entity.

We’ll be working with @wyostable to ensure that WYST operates with the highest standards of transparency and security.…

“This partnership with Inca Digital marks a critical step in our commitment to transparency, security, and innovation,” said Anthony Apollo, Executive Director of the Commission.

Founded under the Wyoming Stable Token Act in 2023, the Commission is the first U.S. public body to issue a fully-reserved stablecoin. 

Inca Digital CEO Adam Zarazinski called the state’s initiative “a standard-setting moment” for digital assets in the public sector.