Wyoming has formally chosen the Solana (SOL) and Aptos (APT) blockchain platforms to underpin its upcoming state-backed stablecoin, WYST, which is scheduled for launch in July 2025. This initiative follows extensive evaluations conducted by the Wyoming Stable Token Commission, considering more than ten blockchains based on network performance indicators such as transactions per second, costs, and transaction finality.
The WYST stablecoin will be pegged to the US dollar and benefits from cross-chain interoperability technology facilitated by LayerZero, enabling deployment across multiple platforms. The project aims not only to innovate in digital currency adoption at the state level but also to generate additional state revenues through strategic investments in US Treasury bonds held against stablecoin reserves.
Aptos emerged with the highest score of 32 points alongside Solana, though the pilot phase primarily includes these two platforms. This selection is expected to enhance Total Value Locked (TVL) and liquidity within both blockchains, possibly driving increased developer and institutional engagement. Wyoming’s move is setting a precedent for state-backed blockchain adoption and may inspire other governmental digital currency ventures.
In a related development, the US Senate recently passed the GENIUS Act, signaling broader legislative support for stablecoins within American financial infrastructure. This momentum aligns with growing corporate interest, including Fortune 500 companies increasingly adopting or exploring stablecoin use, further highlighting the expanding role of stablecoins such as WYST in originating new financial opportunities and innovations.