Wyoming is preparing to launch its WYST stablecoin this summer and has revealed a shortlist of 11 final blockchain candidates. One of these firms will play a key role in this significant step toward state government crypto adoption. The leading contenders include Aptos, Arbitrum, Avalanche, Base, Ethereum, Polygon, Optimism, Sei, Stellar, Solana, and Sui. So far, only Aptos and Sei have publicly acknowledged advancing to this stage. Potential Blockchains to Host the First Government Stablecoin Wyoming has established itself as a national leader in crypto-friendly regulations, largely due to Senator Lummis, a major supporter of the industry in Congress. Three months ago, the state announced plans to launch its stablecoin, WYST, in August. The final decision on a stablecoin partner must be made by July 17, with the 11 candidates already selected: While the full evaluation report remains confidential, some sources have shared details about the scoring. Aptos and Solana tied for first place with 32 points each in Wyoming’s assessment, while Sei came in a surprising third with 30 points, outperforming well-known competitors such as Ethereum and Sui. Sei is the only other company besides Aptos to publicly confirm its advancement; Solana expressed enthusiasm after the previous round but has not yet commented on the latest update. Aptos had a peculiar reaction to being among Wyoming’s finalists.

Its APT token price has been volatile recently, and today’s significant drop appears inexplicable, possibly unrelated to the announcement. Once Wyoming selects its partner, that blockchain firm will facilitate the launch of the WYST stablecoin. Regardless of the chosen firm, Wyoming plans to use LayerZero, an interoperability protocol, to maximize the stablecoin’s utility. WYST will be backed by the US dollar, and forthcoming stablecoin regulations may help bring these plans to fruition. However, not all reactions have been positive. Some prominent community analysts have criticized Wyoming’s assessment methodology, pointing out inconsistencies in scoring criteria such as finality, transaction costs, and smart contract support across different chains. Despite these concerns, this progress remains highly promising. Wyoming stands poised to be the first US state to issue its own stablecoin. If WYST launches as planned, it could represent a major breakthrough for government acceptance of cryptocurrency.