The Wyoming Stable Token Commission has selected Aptos and Sei for the WYST stablecoin pilot program, with Aptos scoring the highest (32), equal to Solana but Solana was not chosen. Sei scored 30 points, ranking above Avalanche (27), Ethereum (26), Base (25), and Algorand (21). The scores are based on metrics such as transactions per second, fees, and transaction confirmation speed.
WYST is a stablecoin backed by the state of Wyoming, pegged to the US dollar, and developed alongside LayerZero. The project aims to generate revenue for the state through interest from short-term US Treasury bonds while promoting financial innovation and transparency. Wyoming began developing the stablecoin after the Stable Token Act was passed in 2023. Governor Mark Gordon stated that the stablecoin could launch in July of this year.
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