The Wyoming Stable Token Commission has included Aptos and Sei in its stablecoin pilot program, with Aptos receiving the highest score among over 10 considered blockchains in the upcoming WYST project.
Aptos disclosed on Friday that, according to the commission's network testing, it scored the highest with 32 points. Solana also received the same score of 32 points but was not selected for the pilot phase.
Meanwhile, Sei scored 30 points, leading other blockchains such as Avalanche (27 points), Ethereum (26 points), Base (25 points), and Algorand (21 points).
According to X user Phillip, associated with the Sei project, the network testing evaluated metrics such as transactions per second, fees, and transaction finality.
WYST is a Wyoming-supported stablecoin pegged to the US dollar and developed in collaboration with LayerZero. Development news emerged in 2023, months after the passage of the Wyoming Stablecoin Act.
The launch of the stablecoin in Wyoming aims to generate revenue for the state government by earning interest through holding short-term US Treasury reserves. The initiative also aims to promote financial innovation and enhance transparency.
In March, Wyoming Governor Mark Gordon revealed that the new stablecoin could be launched before July.
Wyoming embraced digital assets and stablecoins long before they became popular. After Donald Trump was elected President of the United States, the US government formulated a strategy to support cryptocurrencies, seeking to establish market structure and stablecoin legislation.
Significant progress has been made in stablecoin legislation, with the Senate passing the GENIUS Act on Tuesday by a vote of 68 to 30, clearing another hurdle for it to become law.
"Once the GENIUS Act becomes law, businesses of all sizes and Americans across the country will be able to settle payments almost instantly, without having to wait days or even weeks," said Tennessee Senator Bill Hagerty, who is a sponsor of the legislation.
The push for stablecoins in the US has caught the attention of leaders from Fortune 500 companies, who increasingly view these dollar-pegged assets as viable business opportunities.
A recent survey conducted by Coinbase among 100 executives from the Fortune 500 found that about 29% of executives are using or exploring the utility of stablecoins, a significant increase from 8% in 2024.
Related: Texas Governor Signs Bill to Include Bitcoin (BTC) in Official Reserves
Original: “Wyoming Stable Token Commission Ranks Aptos as Top Blockchain”
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