Wyoming Tests Use of State-Issued Stablecoin for Contractor Payments

Wyoming Tests Use of State-Issued Stablecoin for Contractor Payments

Wyoming reportedly tested its planned state-issued stablecoin, the Wyoming Stable Token (WYST), Thursday (July 17), seeing how it could be used for real-time payments to government contractors. [contact-form-7] The state teamed up with blockchain startup Hashfire to use the stablecoin through the company’s Document Authentication Protocol, which is built on a custom Avalanche blockchain, CoinDesk reported Thursday. In a Thursday post on…

Wyoming Tests Stablecoin Payments for Government Contracts with Hashfire

Wyoming has partnered with blockchain startup Hashfire to pilot real-time payments using its upcoming U.S. dollar-backed stablecoin, the Wyoming Stable Token (WYST). The trial, conducted on Thursday, aimed to streamline payments for government contractors by replacing the states standard 45-day payout window with instant, on-chain transactions. The test utilized Hashfires Document Authentication Protocol, which automates vendor agreement approva…