The Wyoming Stable Token Commission (WSTC) has identified Aptos and Solana as the top blockchain candidates to power WYST, the first stablecoin issued directly by a U.S. state. This fiat-backed stablecoin, supported by government bonds and US Treasuries rather than speculative collateral, aims to launch on August 20, 2025, coinciding with the Wyoming Blockchain Symposium. Aptos stands out due to its ultra-low transaction fees (around $0.00055 per transaction) and sub-second finality speeds, making it a prime choice for efficient stablecoin transactions.
In recent events, the Aptos-powered wallet was the official digital wallet at Expo 2025 Osaka, facilitating over 558,000 transactions and onboarding 133,000 new users in one week. These milestones reflect growing organic adoption and community confidence in Aptos. Meanwhile, preparations for WYST include redeploying smart contracts on test networks before migration to mainnet blockchains, legal and regulatory finalizations, and partnership contracts.
This initiative is significant as it represents a pioneering effort by a U.S. state to create a government-issued digital currency with integrated compliance and oversight. Challenges for Aptos include discussions about staking reward adjustments and prior controversies, such as code plagiarism claims. As of the latest data, Aptos (APT) traded at approximately $4.01, showing a 4.7% increase over 12 hours, possibly influenced by these positive developments.