What or who made you interested in the digital assets, blockchain, and emerging technology space?

Through my advisory work at several GSIBs in the wake of the 2008 Global Financial Crisis and subsequent passage of the Dodd-Frank Act, I saw many legacy systems at traditional institutions breaking in real-time. Concurrently, I was introduced to Bitcoin and Ethereum. A unified, immutable, public ledger and the concept of “programmable money” simply made more sense in a digitally connected world. I made the full-time pivot to blockchain work in 2017 and have been building in the space since.

What is driving your state’s approach to digital assets and emerging technology right now?

A desire to fortify Wyoming’s position as the leading state for cryptocurrency, blockchain, and digital asset legislation. Since 2016, over 80 bills on these topics have been proposed, with more than 50 enacted into law. There is also a drive to further embed digital assets into government operations for increased efficiency, reduced costs, and enhanced transparency. This will require a multi-agency effort to prioritize and publicize the initiatives enabled by the state’s permissive regulations.

How do you see digital assets impacting your constituents or local communities directly?

Our agency endeavors to put real dollars back in the pockets of Wyoming’s citizens. Take for example testimony by Joel Schell, Converse County Treasurer. In a recent Commission meeting, Treasurer Schell testified that his office took in $3.4M in tax remittances, but his constituents paid $70,000 in credit card fees to facilitate those payments. Using the Frontier Stable Token would lower these costs to fractions of a cent per transaction.

What advice would you give to other states looking to engage in this space?

Find champions in your legislature and executive branch to support digital asset initiatives for the long-term. Wyoming has been fortunate to have strong and consistent leadership through its Select Committee on Blockchain, Financial Technology, and Digital Innovation Technology – the body responsible for drafting the key topical legislation. Further, Governor Mark Gordon has presided over the majority of bills enacted in Wyoming and currently serves as the Chairman of the Commission.

Where do you see the biggest opportunity for blockchain or digital assets in your state?

In January 2026, Wyoming launched the Frontier Stable Token – the first fiat-backed and fully-reserved stable token to be issued by a public entity in the United States. Dollars received by the Commission for the purchase of “FRNT” are invested in short-duration U.S. Treasuries and repurchases thereof. Both of these instruments bear interest that is collected by the state and swept into Wyoming’s school foundation program on a quarterly basis. We consider FRNT a public good for Wyoming.

About Anthony Apollo:
Anthony Apollo was appointed as the inaugural Executive Director of the WY Stable Token Commission in September 2023. Director Apollo brings his experience in both traditional finance (KPMG, EY) and digital assets (ConsenSys, Rensa) to the development of the first fiat-backed, fully-reserved stable token issued by a public entity in the U.S.