20.06.2025 01:45

Wyoming's selection of Sei Network as a candidate blockchain for its state-backed stablecoin, WYST, propelled SEI's price upward by 6%, reaching an intraday high of $0.1945. This significant boost followed the announcement, underscoring the considerable market interest generated by the state's endorsement. The robust on-chain activity and market response further validate the positive momentum surrounding the project.

The Wyoming Stable Token Commission chose Sei Network, alongside another contender, for its upcoming WYST stablecoin launch scheduled for July. This fiat-backed stablecoin, utilizing LayerZero's Omnichain Fungible Token standard, will leverage cross-chain capabilities for seamless transactions. The selection process, which commenced in March, involved rigorous evaluation of multiple blockchains, ultimately highlighting Sei's security and efficiency. Sei's inclusion, following the consideration of other prominent networks such as Aptos, Ethereum, and Solana, signifies a substantial recognition of its capabilities within the industry.

Confirmation of Sei's selection came directly from the Sei Network via X (formerly Twitter), with supporting details readily available in official state commission documentation. This development reinforces the growing institutional interest in high-performance networks based in the United States, demonstrating the appeal of Sei's technology and its compliance record. The LayerZero integration facilitates seamless cross-chain transfers for WYST, reflecting a broader industry shift toward more sophisticated stablecoin infrastructure.

Remarkably, Sei Network's on-chain metrics reveal a surge in activity. Daily active addresses reached an impressive 616,000, while transaction volume soared to 1.51 million within a 24-hour period, indicating strong network growth and heightened user engagement on the Sei v2 network. This substantial increase in both active users and transaction volume paints a compelling picture of accelerating adoption and usage.