Wyoming Nears Decision on WYST Stablecoin Partner as Finalists Revealed
Wyoming is inching closer to making history with the upcoming launch of its state-backed stablecoin, WYST, scheduled for this summer. As the first U.S. state to approach the full implementation of a government-issued stablecoin, Wyoming has now narrowed its list of potential blockchain partners to 11 candidates. One of these platforms will soon play a central role in powering this landmark project in state-level crypto adoption.
The shortlisted contenders include some of the industry’s most recognized names: Aptos, Arbitrum, Avalanche, Base, Ethereum, Polygon, Optimism, Sei, Stellar, Solana, and Sui. So far, only Aptos and Sei have publicly confirmed their advancement in the selection process.
According to sources familiar with the evaluation — though the full assessment remains confidential — Aptos and Solana currently lead the pack with 32 points each, while Sei has made a surprising surge to third place with 30 points, outperforming several larger players such as Ethereum and Sui. Sei has publicly acknowledged its strong performance, while Solana, despite previous displays of enthusiasm, has not yet issued a statement on the latest developments.
Aptos’ reaction has been more ambiguous, with no clear statement despite its high ranking. The project’s APT token has experienced significant price volatility in recent days, although it’s unclear whether this is connected to the Wyoming news.
The final decision on Wyoming’s blockchain partner is expected by July 17. Once selected, the chosen platform will collaborate with the state to launch WYST. Regardless of which blockchain is ultimately chosen, Wyoming has confirmed it will integrate LayerZero, a cross-chain interoperability protocol, to ensure the stablecoin functions across multiple blockchain ecosystems seamlessly.
WYST will be fully backed by U.S. dollars, aligning with evolving federal regulations around stablecoins. This innovative approach places Wyoming at the forefront of public-sector cryptocurrency adoption, largely thanks to the state’s historically crypto-friendly stance and the efforts of advocates such as Senator Cynthia Lummis, one of the most vocal supporters of digital assets in Congress.
However, not everyone agrees with Wyoming’s evaluation methods. Several analysts have voiced concerns over perceived inconsistencies in the scoring criteria, particularly regarding transaction finality, costs, and smart contract capabilities across the competing chains. Despite the criticism, industry observers view Wyoming’s move as a major step forward for crypto integration in government operations.
Should WYST go live as planned, it could serve as a transformative model for how state governments engage with blockchain technology, potentially setting a precedent for other states and even federal agencies to follow.
