Wyoming reportedly tested its planned state-issued stablecoin, the Wyoming Stable Token (WYST), seeing how it could be used for real-time payments to government contractors. 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. In a Thursday post on X that linked to the CoinDesk article, Avalanche said: “From 45 days to a few seconds — that’s 99.99995% faster. Wyoming just tested real-time contractor payments using its state-issued stablecoin, WYST, using [Hashfire] on Avalanche.” In a reply to that post, Hashfire said: “So fast.” Hashfire said in a May 22 post on X that it was launching a pilot program using the Wyoming Stable Token to pay vendors. “This innovative initiative enables businesses doing vital work for Wyoming citizens to execute agreements and receive payments instantly, boosting liquidity and working capital,” Hashfire said. It was reported in August that Wyoming was developing its own U.S. dollar-backed stablecoin to be used for consumer payments. Advocates of the Wyoming Stable Token said it will provide a faster and cheaper way for individuals and businesses to transact, will create a new revenue stream for the state and may serve as a model for a stablecoin at the federal level.