Companies & Deals
Share
At the DC Blockchain Summit, hosted by The Digital Chamber, Wyoming Stable Token Commission Executive Director Anthony Apollo led an insightful fireside chat with Governor & Commission Chairman Mark Gordon. The discussion showcased Wyoming’s leadership in digital asset innovation and marked a major milestone for the state's stablecoin initiative.
During the session, Director Apollo announced that the Wyoming Stable Token (WYST) has officially entered its testing phase across multiple blockchain networks—an essential step toward launching the first fiat-backed, fully reserved stable token issued by a public entity in the United States.
As WYST is set to launch on publicly visible blockchains, the Commission has now shared smart contract addresses on Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Base testnets. These initial, value-less test tokens were deployed in collaboration with LayerZero, the Commission’s chosen partner for token issuance.
Founded in 2021, LayerZero Labs developed LayerZero, a leading interoperability protocol. Their Omnichain Fungible Token (OFT) Standard and expertise in secure smart contract development provide a scalable, compliant, and robust solution that meets the Commission’s legislative requirement for a multichain stable token.
“We are excited for the opportunity to collaborate with the Commission on this historic initiative, and are committed to delivering solutions that exceed expectations,” said Simon Baksys, VP of Business Development at LayerZero Labs.
Launching
Testing
Disclaimer of Warranty
The information provided in this article is for general informational purposes only. We make no warranties about the completeness, reliability, and accuracy of this information. Read full disclaimer
Governor Mark Gordon reinforced the state’s dedication to transparency and innovation, emphasizing blockchain’s potential to enhance financial security and efficiency.
“We are thrilled to share Wyoming’s vision for state leadership in the nation’s capital,” Governor Gordon stated. “Our forward-thinking approach to blockchain and digital asset legislation has positioned Wyoming as a model for not only other states, but the federal government as well.”
Governor Gordon also highlighted WYST’s benefits, including:
The Commission is continuing its vendor engagement process to refine key aspects of WYST’s development, deployment, and management. This includes:
“The next phase of testing and customizing smart contracts is an imperative step towards delivering the best product for Wyoming and stable token holders,” said Director Apollo. “Once launched, WYST will grant holders the ability to transmit dollar-denominated transactions of any value, anywhere in the world, nearly instantly, with significantly reduced fees compared to traditional ACH or wires.”
As part of the initial testing phase, a demo transaction of WYST was conducted between Ethereum and Avalanche testnets via Stargate, a third-party bridge powered by LayerZero. Since WYST follows the OFT standard, it can be bridged using any compatible interface—Stargate being just one example.




Editor's Picks

UAE Stablecoins: Why They Are Built to Travel, Not Stay Local
Walid Abou Zaki
Feb 28, 2026
8 min

The Central Bank of the UAE Clearing the Noise Around Article 62
Walid Abou Zaki
Feb 25, 2026
5 min

Europe’s Crypto Purge: Did Lithuania Just Kick Out Innovation — and is the UAE the Beneficiary?
Salma Naueihed
Feb 18, 2026
7 min
Read More Articles
In the Same Space

Vitalik Buterin Reveals Ethereum’s Plan for Quantum-Resistant Security
News Desk
Feb 27, 2026
3 min

Ethereum Surpasses $2,000 as Tokenized Real-World Assets Cross $15 Billion
News Desk
Feb 26, 2026
1 min

SEC Approves WisdomTree’s Instant-Settlement Tokenized Money Market Fund
News Desk
Feb 25, 2026
2 min

U.S. Senators Negotiate Stablecoin Rewards Compromise in Market Structure Bill
News Desk
Mar 11, 2026
4 min