Wyoming is considering Solana (SOL) and Aptos (APT) as top contenders to power its proposed state-backed stablecoin.
A State-Issued Stablecoin?
The Wyoming Stable Token Commission (WYST) plans to create a digital currency pegged to the US dollar. This stablecoin would be backed by funds held in a Wyoming state trust. The idea is to create a transparent, stable digital asset.
Solana and Aptos in the Lead
According to Aptos’ announcement on X (formerly Twitter), both Solana and Aptos are tied for the top spot in the selection process. The plan is to utilize LayerZero infrastructure for the stablecoin’s deployment. Aptos highlighted its advantages, including fast transaction speeds and low fees.
Wyoming’s Forward-Thinking Approach
Wyoming Governor Mark Gordon previously expressed his support for a state-backed stablecoin, aiming to bring more debt management onshore and position Wyoming as a leader in digital asset innovation. He sees digital assets as the future and believes Wyoming’s agility can help the US navigate this evolving landscape.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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