The Development of WYST Stablecoin
The Wyoming Stablecoin Committee, a state-sponsored body, is currently making strides in the development of WYST, a forthcoming stablecoin. As revealed in their recent monthly meeting minutes, the committee has set a launch date for the WYST mainnet on August 20th.
Blockchain Selection and Testing Phase
Although they have yet to decide on a specific blockchain from a list of eleven options—including Aptos, Arbitrum, Avalanche, Ethereum, and Solana—there is a possibility that WYST could be available on several of them at once.
In the upcoming months, the committee plans to migrate the smart contract for WYST to its chosen blockchain candidate. Following this, a phase of production testing will commence, which involves using institutional funds for a modest WYST transaction to ensure everything functions smoothly ahead of the public rollout.
This launch is anticipated to coincide with the Wyoming Blockchain Workshop taking place in August.
Ongoing Commitment to Blockchain Innovation
Just prior to this announcement, Wyoming’s administration indicated that the stablecoin was entering a crucial testing phase, with expectations for it to be operational starting in July, highlighting the ongoing commitment to innovation in the state’s blockchain efforts.
