The First U.S. State-Issued Stablecoin: WTST
On March 27, Wyoming Governor Mark Gordon announced at the DC Blockchain Summit that the state plans to issue WTST in July 2025. Unlike private stablecoins such as USDC or USDT, WTST is issued by a U.S. state and collateralized by U.S. Treasuries — providing both yield and strong backing from government securities.
This development positions Wyoming as a pioneer in regulated digital finance. It aligns with the state’s longstanding pro-crypto stance, as Wyoming has previously enacted crypto-friendly legislation and attracted blockchain companies to its jurisdiction.
Partnering with Aptos, Sei, and LayerZero
The Wyoming Stable Token Commission evaluated numerous Layer 1 and Layer 2 blockchain networks for the WTST pilot program. After performance testing for throughput, finality, and transaction costs, the following chains made the shortlist:
- Aptos
- Sei
- LayerZero (for interoperability)
Although Solana also received a top score (32 points), it was not selected for the pilot phase. Other notable contenders included:
- Ethereum (26 points)
- Avalanche (27 points)
- Base (25 points)
- Arbitrum, Polygon, Optimism, Stellar, and Sui
The decision to select Aptos and Sei underscores their growing reputation for scalability and efficient finality—key requirements for a high-performance stablecoin infrastructure.
Why WTST Matters for Global Crypto Adoption
- Government Backing: Unlike corporate-issued stablecoins, WTST is state-backed, bringing legitimacy and confidence to institutional investors wary of regulatory ambiguity.
- Yield-Generating Model: By using U.S. Treasuries as reserves, WTST offers a model where a stablecoin can generate yield for its issuer, similar to how Circle and Tether manage reserves—but now with government oversight.
- Regulatory Precedent: WTST could serve as a template for other U.S. states or governments worldwide to launch compliant, blockchain-based financial instruments.
Final Thoughts
Wyoming’s WTST initiative showcases how local governments can lead innovation in digital finance. By leveraging blockchain networks like Aptos and Sei, the state is laying the foundation for a more transparent, efficient, and regulated stablecoin ecosystem.
As this pilot program rolls out in the second half of 2025, all eyes will be on WTST’s performance — and whether it sets the stage for other state-backed digital currencies across the U.S. and beyond.
