Wyoming is looking for director to oversee its stablecoin initiative

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The state of Wyoming has confirmed that it is searching for an executive director to spearhead its efforts and explore the possibilities of launching a stablecoin.

In its job listing, the state indicates that it is seeking an applicant to steer the affairs of the Wyoming Stable Token Commission. Created in March, the commission is tasked with issuing a stable token pegged to the U.S. dollar for the purpose of investing in U.S. treasury bills.

“The Commission is seeking to hire an Executive Director,” the listing read. “The Executive Director reports to the Commission and is responsible for carrying out the mission of the Commission, providing for its administration, and representing its interests.”

Per the listing, the primary responsibilities include “directing and supporting all administrative operations within the Commission,” submitting reports to legislative committees, and ensuring compliance with existing federal and state regulations.

The successful applicants will be expected to advise the government on the potential risks of rolling out a stablecoin, including cyber threats and market volatility. The role will require creating a comprehensive business plan for the state’s stablecoin, considering legal issues and the redemption mechanics of the offering.

With annual compensation pegged at $150,000, preference will be given to applicants with a strong familiarity with the Wyoming legislative process and expertise in distributed ledger technology. Candidates are expected to possess a robust knowledge of financial services, technical expertise, a strong understanding of the regulatory landscape, and strong ethical standards.

Ideal candidates will bring their existing connections and expertise in the blockchain industry, coupled with a familiarity with Wyoming’s legislative processes and key stakeholders, read the listing.

The role will be in either Cheyenne or Laramie, but did not mention if it will support work-from-home or a hybrid work environment.

The Wyoming Stable Token Commission comprises a board made up of the state’s governor, auditor, treasurer, and “four additional subject matter expert appointees.”

Hiring spree for Web3

Although the industry still reeling from a wave of job cuts in early 2023, players in the industry are slowly bolstering their ranks. U.S.-based Coinbase (NASDAQ: COIN) announced in mid-July that the exchange would begin hiring “people with extraordinary ability,” going the extra mile to tailor roles for individuals that meet its requirement.

The Federal Reserve Bank of San Francisco disclosed that it is keen on hiring a senior ‘crypto’ architect to lead its research team to create a central bank digital currency (CBDC).

Meanwhile, investment giant Paradigm has enlisted the services of a Washington lobbyist to head its government relations as more firms slowly open doors to new talents in the Web3 space.

Watch: What’s going on with stablecoins?