TechFlow news, June 21 — According to The Block, during its latest monthly meeting, the Wyoming Stablecoin Commission announced that the state-backed WYST stablecoin is scheduled to officially launch on mainnet on August 20. The commission has not yet determined which blockchains will host WYST but has listed 11 candidate chains: Aptos, Arbitrum, Avalanche, Base, Ethereum, Optimism, Polygon, Sei, Solana, Stellar, and Sui.
WYST is a dollar-pegged stablecoin authorized under the 2023 Wyoming Stablecoin Act and represents one of the state's many initiatives to establish leadership in blockchain technology. According to the updated timeline, the commission plans to migrate WYST smart contracts onto designated "candidate" blockchains and conduct production testing by purchasing a small amount of WYST with "institutional funds," ensuring end-to-end processes function properly in preparation for a public launch expected to coincide with the August Wyoming Blockchain Symposium.
