The Real Cowboys of Crypto: Wyoming Ropes a $1 Stablecoin

Not far from the Cheyenne Frontier Days Arena, home of the world’s largest outdoor rodeo — “The Daddy of ‘Em All,” locals boast — the spirit of the Old West has run headlong into dreams of a crypto future.

Here in the windswept capital of Wyoming, about 430 miles southeast of the billionaire playground of Jackson, a grand experiment in 21st-century finance is underway.

It doesn’t look like much yet. But these days, you can pick up, say, a box of 100 salted cinnamon roll caramels from Fallon’s Baked Goods — price: 76 old-fashioned dollars — and pay ...