Wyoming Selects Solana Aptos for State Issued Stablecoin

Generated by AI AgentCoin World
Sunday, Jun 22, 2025 8:14 pm ET1min read
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Wyoming has identified Solana (SOL) and Aptos (APT) as the leading candidates for its proposed stable token program. The Wyoming Stable Token Commission (WYST) is developing a fiat-backed stablecoin, which will be the first of its kind issued by a U.S. state. This stablecoin will be representative of and redeemable for one US dollar held in a trust by the state of Wyoming.

Aptos has been highlighted as the highest-scoring blockchain candidate for the WYST program, tying for first place with Solana. The state of Wyoming is considering using either of these blockchains, along with Layer Zero infrastructure, to deploy the potential stablecoin. Aptos, known for its borderless and always-on finance capabilities, supports three native USD stablecoins and processes over $30 billion in monthly stablecoin volume. The platform is renowned for its sub-second finality and near-zero transaction fees, which are approximately $0.00055.

The Wyoming Stable Token Commission aims to deploy the WYST stablecoin on the mainnet by August 20. This initiative follows the recent passing of the GENIUS Act, which establishes the first regulatory framework for stablecoins in the state. Governor Mark Gordon has expressed his commitment to pushing for the adoption of a transparent stablecoin fully backed by the state’s short-term Treasury holdings. He believes that digital assets have a promising future and that Wyoming, with its entrepreneurial

spirit
, can lead the way in stabilizing the market by bringing debt onshore.

The state's proactive approach to digital assets and stablecoins positions Wyoming as a potential leader in government crypto adoption. By leveraging the capabilities of Solana and Aptos, Wyoming aims to create a stable and efficient financial system that can benefit both the state and its residents. The deployment of the WYST stablecoin is expected to enhance financial stability and transparency, aligning with the state's broader goals of innovation and economic growth.