Wyoming has shortlisted layer-one blockchains Solana (SOL) and Aptos (APT) as primary candidates to support the state’s proposed stablecoin initiative.
The Wyoming Stable Token Commission (WYST) aims to issue a virtual currency backed one-to-one by US dollars held in a state trust.
According to a post on the social platform X, Aptos highlighted that Wyoming intends to deploy the stablecoin using either Solana or Aptos chains integrated with Layer Zero infrastructure.
“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 passage of the GENIUS Act, which establishes the first regulatory framework for stablecoins, Aptos is positioning itself as a leading blockchain for stablecoin issuance.
Last year, Wyoming Governor Mark Gordon expressed support for adopting a transparent, state-backed stablecoin fully collateralized by short-term Treasury holdings. He noted that this approach could help stabilize debt markets by keeping them onshore, while emphasizing Wyoming’s nimble regulatory environment compared to slower federal responses.