Share this article
Wyoming Tests Instant Payments with State-Issued Stablecoin on Avalanche-Based Hashfire
The exercise aims to showcase how stablecoins and blockchain rails can cut government vendor payments from weeks to seconds.
Jul 17, 2025, 6:09 p.m.
Make us preferred on Google
What to know:
- Wyoming is testing its upcoming stablecoin, the Wyoming Stable Token (WYST), for real-time payments to government contractors.
- The pilot intends to demonstrated instant payments using WYST through Hashfire's Avalanche-based Document Authentication Protocol, bypassing the usual 45-day payment window.
- Wyoming previously said it planned to roll out its U.S. dollar stablecoin as soon as July.
Wyoming state teamed up with blockhain startup Hashfire to test how its upcoming U.S. dollar stablecoin, the Wyoming Stable Token (WYST), could be used for real-time payments for government contractors.
The pilot, which took place on Thursday, aimed to demonstrate an automated vendor agreement approval and an instant, on-chain payment using WYST through Hashfire’s Document Authentication Protocol, bypassing the state’s typical 45-day payment window.
STORY CONTINUES BELOW
The protocol, built on a custom Avalanche blockchain using AvaCloud's infrastructure, allows governments and enterprises to embed approval processes, compliance rules and payment instructions directly into smart contracts.
The parties said they plan broader implementation of blockchain-based payouts with WYST later this quarter.
The test occurred as Wyoming, known for its forward stance on blockchain legislation, is preparing to roll out its U.S. dollar-backed token with U.S. stablecoin regulations forthcoming. The state created the Wyoming Stable Token Commission in 2023 to develop and issue WYST and oversee its integration into public finance.
The token, still in test phase, was slated to launch as soon as July, the commission said earlier this year.
Read more: U.S. House's 'Crypto Week' Shifts Toward Getting All Legislation Out Thursday
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
