Wyoming Stable Token Commission targets Aug. 20 for WYST stablecoin mainnet launch

The Wyoming Stable Token Commission, the state-backed group developing the WYST stablecoin, is targeting Aug. 20 for mainnet launch, according to its latest monthly meeting. 

The group has yet to determine which of the 11 blockchains — Aptos, Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, Sei, Solana, Stellar, and Sui — on which WYST will officially launch. However, several chains may be chosen for the first state-backed stablecoin. 

WYST, a U.S. dollar-pegged stablecoin authorized by the Wyoming Stable Token Act in 2023, is one of many attempts by the Cowboy State to establish itself as a leader in the blockchain space and a natural hub for industry participants. 

The launch may coincide with the first national stablecoin bill, which President Donald Trump has said he hopes to sign into law by the end of the summer. 

According to an updated timeline, the group plans to “migrate WYST smart contracts” to the designated “in-scope candidate” blockchains. It will then “test in prod” by “funding a small WYST purchase with agency funds and ensure end-to-end processes are in place,” in preparation for a public announcement scheduled to coincide with the Wyoming Blockchain Symposium in August.

The commission voted to add Aptos and Sei as blockchain candidates during May’s monthly meeting. In June, the group added additional criteria that the selected blockchains need to be compatible with its vendors, including analytics firm Chainalysis and infrastructure provider Fireblocks. 

Between now and August, the commission plans to relaunch the WYST testnet contracts on the candidate chains to assess their integrations with LayerZero and Fireblocks’ “unified architecture.”

The group also plans to file for new trademarks for what appear to be additional stablecoins, including the “Frontier Stable Token” (FRNT / iFRNT) and the “Wyoming Electronic Stable Token” (WEST).