The Wyoming State “Stable Token Commission” has set August 20, 2025, as the official launch date for WYST, its state-backed stablecoin, at the Wyoming Blockchain Symposium in Jackson. Wyoming becomes the first U.S. state to issue a fiat-backed digital currency, marking a significant milestone in the evolving landscape of public finance and digital payments.

A State-Backed Digital Dollar

WYST, short for Wyoming Stable Token, is designed to be fully backed by U.S. dollars held in trust by the state. Each token will be redeemable for one U.S. dollar, ensuring price stability and public trust. The token’s reserves, invested in safe assets like U.S. Treasuries, will generate interest that is earmarked for Wyoming’s School Foundation Fund, channeling digital innovation directly into public benefit.

Anthony Apollo, Executive Director of the Wyoming Stable Token Commission, emphasized WYST’s role as a “public good,” highlighting that the project’s statutory framework mandates that returns from the token’s reserves are used to support state education and infrastructure.

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Preferred Blockchains

After a thorough evaluation by its Blockchain Selection Working Group, the Commission has officially selected Aptos and Solana as the foundational blockchains for WYST’s initial launch. Both platforms were chosen for their unique strengths:

1. Aptos: Aptos offers strong infrastructure and efficient handling of complex transaction loads, ensuring reliability and scalability for state level digital assets.

2. Solana: Known for high throughput Solana delivers the speed and low latency required for stablecoin operations at scale.

This dual-platform approach diversifies technological risk and leverages the strengths of both blockchains, optimizing performance, security, and accessibility for users.

Multi-Chain Plan via LayerZero

WYST’s launch will not be limited to a single blockchain. The Commission plans to deploy the stablecoin as an Omnichain Fungible Token (OFT) using LayerZero’s interoperability protocol, enabling WYST to operate seamlessly across multiple blockchain networks. This strategy aims to maximize accessibility and utility, allowing residents, businesses, and institutions to transact using WYST on their preferred platforms. LayerZero’s technology brings instant interoperability, allowing WYST to be issued and transferred across over 35 blockchains, simplifying liquidity management and broadening the token’s reach within the decentralized finance (DeFi) ecosystem.

Focus on Safety, Compliance, and Public Trust

The Commission’s preparations have included extensive testing on major blockchain testnets, including Avalanche, Solana, Ethereum, and others. Contracts with industry leaders like Franklin Templeton (for fund management) and Chainalysis (for transaction monitoring) underscore the state’s commitment to safety, transparency, and regulatory compliance. Public education and engagement are central to the rollout. The Commission is finalizing operational rules and inviting public feedback, with plans to demonstrate WYST’s use for everyday transactions to Wyoming residents and businesses at the Symposium.

Blockchain Regulations

Wyoming’s proactive approach to digital assets is well established, with over 45 blockchain-friendly laws passed since 2016. The launch of WYST cements the state’s status as a pioneer in digital finance, potentially influencing federal policy and serving as a model for other states considering similar initiatives.

As the August 20 launch approaches, all eyes will be on Jackson, where Wyoming’s bold experiment in state-backed stablecoins could set a precedent for the future of digital public money in America.