Wyoming Sets August 20 Launch for WYST, Its State-Backed Dollar-Pegged Stablecoin

Aptos and Sei Selected as Pilot Blockchains as WYST Prepares to Enter Live Market

Wyoming’s Stable Token Commission is preparing to debut the United States’ first state-backed, dollar-pegged stablecoin on August 20, 2025. Known as the Wyoming Stable Token (WYST), the project was authorized under the Wyoming Stable Token Act passed in 2023 and aims to establish a new revenue stream for the state by earning interest from reserves held in short-duration U.S. Treasury bonds. With WYST, Wyoming seeks to advance financial innovation, set new standards for transparency, and create a blockchain-based public utility that leverages existing infrastructure for cross-chain operability.

The Commission’s approach is both ambitious and highly structured. In partnership with LayerZero for interoperability and Fireblocks for infrastructure management, the Commission is executing testnet deployments to prepare for WYST’s mainnet launch. The announcement is scheduled to take place during the Wyoming Blockchain Symposium in August, aligning closely with national policy shifts around stablecoins. As part of these preparations, the Commission is relaunching test contracts to validate the integration of smart contract operations across select blockchain networks.

After an extensive evaluation process spanning more than 11 blockchain ecosystems—including Ethereum, Solana, Polygon, Arbitrum, Base, Sui, Optimism, Stellar, Avalanche, Aptos, and Sei—Aptos emerged as the top-performing blockchain with 32 points. While Solana also scored 32, it was not selected for the pilot phase. Sei came in closely behind with 30 points, followed by Avalanche (27), Ethereum (26), Base (25), and Algorand (21). Criteria used to evaluate performance included transaction throughput (TPS), fees, and time to finality. As of the May 2025 meeting, Aptos and Sei were formally selected as candidates for the WYST pilot program, with smart contracts expected to be migrated and tested in production by executing a small real-money purchase using state agency funds.

The decision on final mainnet deployment will depend heavily on vendor compatibility. Fireblocks’ unified architecture and LayerZero’s messaging protocol are non-negotiable components, requiring that the selected blockchains integrate smoothly with both platforms. Chainalysis is also expected to play a role in analytics, reinforcing a framework built for institutional-grade security and compliance. The Commission's "test-in-prod" approach reflects a confidence in the infrastructure stack, and the selected chains must demonstrate resilience under live conditions.

Beyond WYST, the Commission is laying the groundwork for broader adoption of state-issued digital assets. Trademarks are being filed for several new tokens, including the Frontier Stable Token (FRNT/iFRNT) and the Wyoming Electronic Stable Token (WEST), signaling an intent to diversify the state's crypto asset offerings. These moves position Wyoming at the forefront of state-level crypto experimentation, amid growing interest from both lawmakers and enterprises.

At the federal level, the WYST timeline may converge with the passage of national stablecoin legislation. The GENIUS Act, which passed the U.S. Senate by a 68–30 vote, is being championed by former President Donald Trump, who has publicly committed to signing it into law by the end of summer 2025. If enacted, the law could legitimize stablecoin usage across the country and simplify compliance for public and private institutions. Senator Bill Hagerty of Tennessee stated that the bill would enable “nearly instantaneous” settlement of payments for Americans and businesses, eliminating the wait times typical in the legacy banking system.

Corporate sentiment appears to be aligning with this shift. According to a recent Coinbase-backed survey, 29% of Fortune 500 executives are now exploring or actively using stablecoins for business operations, a sharp rise from just 8% the previous year. Wyoming’s entry into the stablecoin sector through WYST reflects both a local innovation effort and a broader trend toward blockchain adoption at every level of financial governance.

This article has been refined and enhanced by ChatGPT.