Wyoming has shortlisted layer one blockchains Solana (SOL) and Aptos (APT) as the principle candidates for working the state’s proposed steady token concept.
The Wyoming Steady Token Fee (WYST) is a proposed digital foreign money consultant of and redeemable for one US greenback held in a belief by the state of Wyoming.
In a put up 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 Steady 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 shall 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 determine 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 yr, Wyoming Governor Mark Gordon mentioned he would push for the adoption of a “clear” stablecoin totally backed by the state’s short-term Treasury holdings.
“One of many huge issues for me is to have the ability to convey again onshore numerous our debt as a result of if it’s purchased by treasuries and supported by Treasurys, it should assist to stabilize that market to a level…
[What] is obvious to me is that digital property are going to have a future. The US has to handle this problem. Washington’s being slightly bit stodgy, which is why Wyoming, being a nimble and entrepreneurial state, could make a distinction.”
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