Wyoming is set to launch the WYST stablecoin this summer and has released a list of 11 final candidates. Among these blockchain firms, one will play a pivotal role in achieving this significant milestone in state-level crypto adoption.

The leading contenders include Aptos, Arbitrum, Avalanche, Base, Ethereum, Polygon, Optimism, Sei, Stellar, Solana, and Sui. As of now, only Aptos and Sei have confirmed their advancement in the process.

Wyoming has long been recognized as a leader in crypto-friendly regulations, partly due to the efforts of Senator Lummis, a prominent supporter of the industry in Congress.

Three months ago, the state announced its intention to debut the WYST stablecoin in August. By July 17, Wyoming must finalize its decision regarding the stablecoin partner, having already compiled a shortlist of 11 candidates.

While the full report has not been made public, certain sources have provided insights into the scoring system. Aptos and Solana tied for the highest score, each receiving 32 points according to Wyoming's evaluation criteria. Sei emerged as an unexpected third-place contender with 30 points, surpassing major competitors such as Ethereum and Sui.

Sei is the sole firm to publicly acknowledge its standing in the competition, while Solana expressed enthusiasm in the previous round but has yet to comment on the latest update.

Aptos, on the other hand, exhibited an unusual response upon being named among Wyoming's stablecoin finalists. The recent volatility in the APT token's price is notable, though today's significant decline appears unconnected to the announcement.

Once Wyoming finalizes its selection, the chosen blockchain firm will assist in launching the WYST stablecoin. Regardless of the partner selected, Wyoming intends to utilize LayerZero, an interoperability protocol, to maximize functionality.

WYST will be backed by the US dollar, and forthcoming stablecoin regulation may further facilitate these initiatives.

Nevertheless, not all stakeholders are satisfied with Wyoming's stablecoin assessment. Prominent community analysts have pointed out inconsistencies in the state's methodology, questioning the validity of the final outcomes.

Critics argue that the scoring for factors such as finality, low transaction costs, and smart contract support was inconsistent across different chains.

Despite these concerns, this development remains highly anticipated. Wyoming could potentially become the first U.S. state to introduce a stablecoin.

If WYST enters circulation as planned, it could represent a groundbreaking step toward increased governmental acceptance of cryptocurrencies.

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