Wyoming has shortlisted layer one blockchains Solana (SOL) and Aptos (APT) as the primary candidates for working the state’s proposed secure token concept.
The Wyoming Secure Token Fee (WYST) is a proposed digital forex consultant of and redeemable for one US greenback held in a belief by the state of Wyoming.
In a post on the social media platform X, Aptos says that the state is wanting to make use of both chain with Layer Zero infrastructure to deploy a possible stablecoin.
“The Wyoming Secure Token Fee has positioned Aptos because the highest-scoring blockchain candidate for WYST – the primary fiat-backed stablecoin issued by a US State – tying for 1st place with Solana.
WYST will likely be deployed utilizing Layer Zero…
Aptos is making borderless, always-on finance a actuality as we speak with three native USD stablecoins & $30 billion+ in month-to-month stablecoin quantity, supported by sub-second finality and near-zero transaction charges at [around] $0.00055.
Following the latest passing of the GENIUS Act to ascertain the primary regulatory framework for stablecoins and Aptos pushing additional because the chain for stablecoins, the way forward for finance is right here on Aptos.”
Final 12 months, Wyoming Governor Mark Gordon said he would push for the adoption of a “clear” stablecoin totally backed by the state’s short-term Treasury holdings.
“One of many large issues for me is to have the ability to convey again onshore a whole lot of our debt as a result of if it’s purchased by treasuries and supported by Treasurys, it is going to assist to stabilize that market to a level…
[What] is evident to me is that digital belongings are going to have a future. The USA has to deal with this difficulty. Washington’s being just a little bit stodgy, which is why Wyoming, being a nimble and entrepreneurial state, could make a distinction.”
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