Wyoming has announced its selection of Aptos and Sei blockchains for its stablecoin pilot program. Aptos emerged as the top scorer in the evaluation.
Blockchain Assessment Results
Aptos achieved the highest score of 32 points from the Wyoming Stable Token Commission, surpassing over 10 other blockchains, including Solana, which also scored 32 points but was not selected for the pilot. Sei scored 30 points, with Avalanche, Ethereum, and others scoring lower.
Wyoming's Plans for Stablecoin Launch
Wyoming is developing a stablecoin pegged to the US dollar in collaboration with LayerZero. The goal of this project is to create a new revenue source for the state by earning interest on reserves held in short-duration US Treasury bonds. The launch is expected to occur as early as July.
Federal Support for Stablecoins
As Wyoming actively supports the development of stablecoins, there is also movement at the federal level. The US Senate recently voted in favor of the GENIUS Act, which supports the use of stablecoins and simplifies electronic payments. This underscores the importance of stablecoins as part of the US financial infrastructure.
Wyoming's initiative and federal support highlight the growing significance of stablecoins within the country's financial system, as well as their potential to create new economic opportunities.
