Wyoming Shortlists Aptos, Sei for WYST Stablecoin Pilot
The Wyoming Stable Token Commission has selected Aptos and Sei for its stablecoin pilot program, with Aptos receiving the highest score of 32 points from over 10 blockchains evaluated. Solana also scored 32 points but was not chosen for the pilot. Sei scored 30 points, followed by Avalanche (27), Ethereum (26), Base (25), and Algorand (21). The evaluation metrics included transactions per second, fees, and transaction finality. Wyoming's stablecoin, WYST, is pegged to the US dollar and aims to generate state revenue through interest on reserves in short-duration US Treasury bonds. The initiative promotes financial innovation and transparency. Governor Mark Gordon indicated a potential launch by July. Additionally, the US Senate passed the GENIUS Act, facilitating stablecoin legislation and enhancing payment efficiency. A Coinbase survey revealed that 29% of Fortune 500 executives are exploring stablecoin utility, up from 8% in 2024.
