Wyoming Chooses The Wyoming Reserve for Secure Precious Metals Vaulting

The state of Wyoming has made a significant move by selecting The Wyoming Reserve Opportunity Zone Fund Corporation to manage the vaulting of its physical precious metals holdings. This partnership not only underscores the state's commitment to secure financial practices but also illustrates a major step towards expanding local custody infrastructure.

Josh Phair, the CEO of The Wyoming Reserve, expressed his pride in the state's choice, stating, "We are proud and honored that the state of Wyoming has chosen to vault its precious metals with The Wyoming Reserve." His remarks highlight how this decision validates the company's role as a reliable custodian in the precious metals sector and aligns with their long-term vision of ensuring secure storage for institutions and high-net-worth clients.

The decision to partner with The Wyoming Reserve followed extensive vetting and negotiations with the Wyoming State Treasurer's Office. The selection is a testament to the rigorous standards of security, governance, and operational integrity maintained by The Wyoming Reserve.

Wyoming is relatively unique among U.S. states in that it actively maintains physical precious metals as part of its reserves. Typically, states that do engage in this practice often rely on federal institutions or out-of-state commercial vaulting providers for custody. By choosing an in-state vault, Wyoming aligns itself with the principles of sound money while maintaining its physical assets within its borders.

Dave McMaster, president of The Wyoming Reserve, elaborated, "This selection represents a meaningful expansion of our role as a vaulting provider serving institutional and private clients..." He further emphasized Wyoming's ongoing leadership in policies that promote ownership and storage of physical precious metals.

The Wyoming Reserve operates out of a high-security facility located in Casper, occupying approximately 70,000 square feet. This facility is situated in a designated opportunity zone, which speaks to its potential economic value and growth prospects. The state has achieved top rankings for its business tax climate and as a 'sound money' state, thanks to favorable policies that include the absence of taxes on silver or gold and no corporate or personal income tax.

This decisive move enhances The Wyoming Reserve's capacity to serve not just the state but also private investors and institutions looking for secure storage solutions. It promotes a local economic environment that is conducive to custodial operations targeting both individuals and corporate clients.

In conclusion, Wyoming's selection of The Wyoming Reserve marks a pivotal development in the state’s approach towards managing its physical precious metals. This partnership showcases the potential for in-state solutions that embody the principles of sound money, while fostering a secure and reliable environment for asset storage.

For additional information about The Wyoming Reserve and their services, visitors can explore their offerings at thewyomingreserve.com.