Wyoming has shortlisted layer one blockchains Solana (SOL) and Aptos (APT) as the main candidates for running the state’s proposed stable token idea.
The Wyoming Stable Token Commission (WYST) is a proposed virtual currency representative of and redeemable for one US dollar held in a trust by the state of Wyoming.
[adinserter block="1"]In a post on the social media platform X, Aptos says that the state is looking to use either chain with Layer Zero infrastructure to deploy a potential stablecoin.
“The Wyoming Stable Token Commission has placed Aptos as the highest-scoring blockchain candidate for WYST – the first fiat-backed stablecoin issued by a US State – tying for 1st place with Solana.
WYST will be deployed using Layer Zero…
Aptos is making borderless, always-on finance a reality today with three native USD stablecoins & $30 billion+ in monthly stablecoin volume, supported by sub-second finality and near-zero transaction fees at [around] $0.00055.
Following the recent passing of the GENIUS Act to establish the first regulatory framework for stablecoins and Aptos pushing further as the chain for stablecoins, the future of finance is here on Aptos.”
Last year, Wyoming Governor Mark Gordon said he would push for the adoption of a “transparent” stablecoin fully backed by the state’s short-term Treasury holdings.
“One of the big things for me is to be able to bring back onshore a lot of our debt because if it’s bought by treasuries and supported by Treasurys, it will help to stabilize that market to a degree…
[What] is clear to me is that digital assets are going to have a future. The United States has to address this issue. Washington’s being a little bit stodgy, which is why Wyoming, being a nimble and entrepreneurial state, can make a difference.”
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