Wyoming’s WYST stablecoin set to launch on August 20 at Blockchain Symposium

Wyoming’s first-of-its-kind state-issued stablecoin WYST will officially launch on August 20, with the state confirming plans to debut the token at the Wyoming Blockchain Symposium in Jackson, WY.

The new timeline was announced by the Wyoming Stable Token Commission after their latest monthly meeting held on June 19, following earlier delays related to vendor contracting and regulatory preparations.

According to a memo released on June 19, the WYST project is in its final stretch, with key tasks now underway across finance, legal, tech, and operational teams. The Commission finalizing rules around reserves management, establishing accounting infrastructure, and signing contracts with partners.

On the technical side, smart contracts for WYST are being redeployed on test networks and will soon be migrated to mainnet blockchains. A new website, stabletoken.wyo.gov, is also being prepared to go live ahead of the announcement.

Authorized by the Wyoming Stable Token Act in 2023, WYST is one of the most ambitious efforts yet by a U.S. state to issue its own digital currency. Unlike private stablecoins, WYST is issued and governed by a public commission, with oversight from state officials and built-in compliance mechanisms. It’s backed by a combination of cash, U.S. Treasuries, and repurchase agreements. The state hopes to position WYST as a trusted digital payment tool for businesses, residents, and blockchain developers, particularly in Wyoming’s growing crypto and fintech ecosystem.

While the June 19 memo didn’t specify which blockchains WYST will launch on, the Wyoming Stable Token Commission has ranked Aptos (APT) and Solana (SOL) as the top-performing blockchain candidates for WYST, with both platforms tying for first place in the evaluation process.