rewrite this content using a minimum of 1000 words and keep HTML tags
Wyoming has shortlisted layer one blockchains Solana (SOL) and Aptos (APT) as the main candidates for running the state’s proposed stable token idea.
The Wyoming Stable Token Commission (WYST) is a proposed virtual currency representative of and redeemable for one US dollar held in a trust by the state of Wyoming.
In a post on the social media platform X, Aptos says that the state is looking to use either chain with Layer Zero infrastructure to deploy a potential stablecoin.
“The Wyoming Stable Token Commission has placed Aptos as the highest-scoring blockchain candidate for WYST – the first fiat-backed stablecoin issued by a US State – tying for 1st place with Solana.
WYST will be deployed using Layer Zero…
Aptos is making borderless, always-on finance a reality today with three native USD stablecoins & $30 billion+ in monthly stablecoin volume, supported by sub-second finality and near-zero transaction fees at [around] $0.00055.
Following the recent passing of the GENIUS Act to establish the first regulatory framework for stablecoins and Aptos pushing further as the chain for stablecoins, the future of finance is here on Aptos.”
Last year, Wyoming Governor Mark Gordon said he would push for the adoption of a “transparent” stablecoin fully backed by the state’s short-term Treasury holdings.
“One of the big things for me is to be able to bring back onshore a lot of our debt because if it’s bought by treasuries and supported by Treasurys, it will help to stabilize that market to a degree…
[What] is clear to me is that digital assets are going to have a future. The United States has to address this issue. Washington’s being a little bit stodgy, which is why Wyoming, being a nimble and entrepreneurial state, can make a difference.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Larich/Sensvector
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
