Hold onto Your Hats: Wyoming's Groundbreaking Stablecoin WYST Set to Launch August 20!

Buckle Up for the Wyoming Blockchain Symposium in Jackson, WY

Get ready, crypto fans! Wyoming is about to shake things up with the launch of their state-issued stablecoin, WYST, on August 20. The big reveal is happening at the Wyoming Blockchain Symposium in Jackson, WY. You won't want to miss it!

From Delays to Determination: The WYST Journey

The Wyoming Stable Token Commission just dropped the new timeline at their latest monthly meeting on June 19. After some hiccups with vendor contracting and regulatory prep, they're back on track and more determined than ever.

Final Stretch: All Hands on Deck

According to a memo released on June 19, the WYST project is in its final stretch. The teams are hustling across finance, legal, tech, and ops to get everything ready. The Commission is locking down rules for reserves management, setting up accounting infrastructure, and inking deals with partners. It's go time!

Tech Talk: Smart Contracts and a Fresh Website

On the tech side, they're redeploying smart contracts for WYST on test networks, and soon, they'll be live on mainnet blockchains. Plus, a slick new website at stabletoken.wyo.gov is gearing up to go live just before the big announcement. It's all coming together!

Wyoming's Ambitious Leap into Digital Currency

Authorized by the Wyoming Stable Token Act in 2023, WYST is a game-changer. It's one of the boldest moves yet by a U.S. state to issue its own digital currency. Unlike those private stablecoins, WYST is issued and governed by a public commission, with state officials keeping a close eye and built-in compliance to keep things legit. It's backed by a mix of cash, U.S. Treasuries, and repurchase agreements. Wyoming's aiming to make WYST a go-to digital payment tool for businesses, residents, and blockchain devs, especially in their thriving crypto and fintech scene.

Blockchain Battle: Aptos and Solana Neck and Neck

The June 19 memo didn't spill the beans on which blockchains WYST will launch on, but the Wyoming Stable Token Commission has been busy ranking the top contenders. Aptos (APT) and Solana (SOL) are neck and neck, both tying for first place in the eval process. It's a tight race!

Aptos Takes the Lead: WYST's Blockchain Choice

The Wyoming Stable Token Commission has crowned Aptos as the top-scoring blockchain candidate for WYST, the first fiat-backed stablecoin issued by a U.S. State, tying with Solana. And get this—WYST will be deployed using LayerZero. It's happening, folks!