crypto.news 2025-06-20 18:22:38

Solana, Aptos tie for top spot in Wyoming’s hunt for WYST stablecoin partner

Wyoming’s Stable Token Commission has placed Aptos and Solana at the forefront of its stablecoin initiative. One blockchain failed to meet requirements, sharpening focus on the two finalists. After narrowing down an initial list of 11 candidates in April, Wyoming’s Stable Token Commission has now identified Solana ( SOL ) and Aptos ( APT ) as the top two blockchain networks under consideration for its WYST stablecoin. The selection process, which included stringent checks on vendor support and technical robustness, saw one network disqualified due to undisclosed compliance concerns. The Commission’s latest update, confirmed by an Aptos post on X on June 20, signals a tightening race between two of crypto’s fastest-growing ecosystems. The Wyoming Stable Token Commission has placed Aptos as the highest-scoring blockchain candidate for WYST—the first fiat-backed stablecoin issued by a U.S State—tying for 1st place with Solana. WYST will be deployed using @LayerZero_Core . pic.twitter.com/CMUyRbs4Gq — Aptos (@Aptos) June 20, 2025 You might also like: Surprise Fed statement sparks hopes of Bitcoin and altcoin rally Why Aptos and Solana emerged as frontrunners Wyoming’s focus on Aptos and Solana for its WYST stablecoin isn’t arbitrary. Both networks deliver on three core requirements the Commission prioritized: high throughput, fast finality, and mature vendor support. Aptos, born from Meta’s shuttered Diem project, has a unique advantage. The network claims its Block-STM parallel execution engine can handle transactions at high speed while maintaining sub-second finality. This architecture allows the network to scale to hundreds of thousands of transactions per second without compromising security. Additionally, Aptos leverages Move, a programming language purpose-built for financial applications, which reduces risks such as reentrancy attacks. Solana, meanwhile, has spent years testing its high-performance architecture in production. Its single, globally shared state enables lightning-fast transactions while keeping fees minimal. For Wyoming, which needs a stablecoin capable of handling everything from instant tax payments to treasury operations, Solana’s proven throughput and growing institutional adoption made it a natural contender. Solana already supports WYST test coins on its testnet and has undergone quarterly reviews by the Commission since late 2024, demonstrating its operational readiness. Its deep liquidity and composability across DeFi apps also position it well for seamless integration with existing financial tools. Aptos, though newer, brings enterprise-friendly features such as on-chain upgradability, allowing for rapid protocol changes without disruptive hard forks. Backed by industry giants like Google Cloud and Microsoft, Aptos has positioned itself as a regulatory-compliant chain, an essential trait for a state-minted digital dollar. Read more: The full story behind the $90 million Nobitex hack that shattered Iran’s crypto illusion

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