The Wyoming Stable Token Commission has selected Aptos and Sei for its stablecoin pilot program focused on the WYST project.
Aptos received the highest score of 32 points in network testing conducted by the Commission, narrowly exceeding Solana’s identical score of 32 points, which precluded its selection.
Sei ranked second with 30 points, followed by Avalanche (27), Ethereum (26), Base (25), and Algorand (21).
The evaluation criteria included transactions per second, fee structures, and transaction finality, according to X user @Phillip_xyz.
WYST is Wyoming’s state-backed stablecoin, designed to be pegged 1:1 to the US dollar. It will leverage LayerZero technology for interoperability. Development began in 2023 following the passage of the Wyoming Stable Token Act.
WYST aims to generate state revenue by investing reserve assets in short-duration US Treasury bonds. The initiative also targets promoting financial innovation and enhancing transparency in digital assets.
Wyoming Governor Mark Gordon previously indicated potential readiness for launch by July.
Wyoming’s Pioneering Stablecoin Development
Wyoming has championed digital assets and stablecoin innovation long before it gained mainstream attention. Recently, its efforts coincided with a US federal push under President Donald Trump, marked by initiatives for crypto-friendly legislation.
The legislative landscape saw a major development on Tuesday when the US Senate passed the GENIUS Act (68–30 vote) advancing stablecoin regulation.
As Tennessee Senator Bill Hagerty, a sponsor of the bill, noted: “Once the GENIUS Act is law, businesses of all sizes, and Americans across the country will be able to settle payments nearly instantaneously…”
The push has attracted significant corporate interest, with a recent Coinbase survey finding that approximately 29% of Fortune 500 executives are using or exploring stablecoins, a substantial increase from 8% last year.
