Apollo explained that, unlike CBDCs, which are digitally created by a central bank in the same way as cash, Wyoming’s stablecoin will be fully backed by reserves, including U.S. Treasuries. “Wyoming is not a central bank,” he stressed. “We are not issuing any cash.” By linking the token to secure assets, state officials argue that WYST avoids the inflationary risks that can be associated with government-issued digital currencies.