Frontier Stablecoin - Why?

[evilpoke]

https://stabletoken.wyo.gov/

What is the benefit to the state of Wyoming for doing this?

 

[ZapPoke]

Money. As the coins are purchased the money will be invested in US Treasury bills. The coins are tied to the value of the US dollar. Businesses will be able to accept payment in stable coins and avoid the ridiculous processing fees credit card companies charge. The earnings from the T-bills will go to the state. That’s kind of an over simplified explanation but I am no expert either.

 

[ZapPoke]

I was kinda hoping someone who knows more than me would chime in. I have learned now that at the consumer level the transactions will go through Visa so there will probably be fees but maybe less than credit card transaction fees. However, there are no consumer protections like those provided by credit cards. It will be advantageous for business to business transactions as the funds will be almost immediately available. The state could pay contractors digitally expediting the funds transfer. It’s interesting to me that out of all the states Wyoming is the first to have a stable coin.