EddieJayonCrypto
23 Jun 25
Wyoming has shortlisted Solana and Aptos as the main candidates to run its proposed state-backed stablecoin, the Wyoming Stable Token Commission (WYST). WYST is a virtual currency redeemable for one US dollar held in a state trust. The stablecoin will be deployed using Layer Zero infrastructure. Apt...
Wyoming has shortlisted Solana and Aptos as the primary candidates to operate its proposed state-backed stablecoin, the Wyoming Stable Token Commission (WYST). This virtual currency will be redeemable for one US dollar held in a state trust, aiming to bring transparency and stability through state Treasury backing. Both blockchains will utilize Layer Zero infrastructure for deployment.
Aptos boasts impressive credentials, including three native USD stablecoins, over $30 billion in monthly stablecoin volume, sub-second transaction finality, and minimal transaction fees averaging $0.00055. Aptos and Solana tied as top contenders in Wyoming’s assessment for the WYST project, reflecting their capabilities to support borderless and always-on finance.
Wyoming Governor Mark Gordon has emphasized the importance of a transparent, fully-backed stablecoin that can stabilize markets by bringing debt onshore, supported by short-term Treasuries. He highlighted Wyoming’s entrepreneurial spirit as a driving force in pioneering regulatory frameworks such as the recently passed GENIUS Act for stablecoins, positioning the state as a leader in digital asset regulation.
The proposed stablecoin initiative showcases Wyoming’s strategic move to foster innovation in digital currencies, encouraging dialogue about the future of finance and the state's role in shaping a regulatory framework that supports secure and reliable stablecoins.