Exclusive: Hashfire CEO on Wyoming’s Stablecoin Pilot and Future Plans

The pilot, which utilizes the WYST stabletoken for government payments, has drawn national attention for its integration of blockchain into state procurement and treasury workflows, without requiring staff to manage wallets, gas fees, or new interfaces. Hashfire’s solution, built on Avalanche, aims to modernize government finance through smart contracts, programmable agreements, and real-time compliance mechanisms.

In this exclusive Q&A, Hashfire CEO John Belitsky discusses the technical and regulatory challenges of launching programmable stablecoins in the public sector, the unique advantages of Avalanche’s dual-layer architecture, and how the Wyoming pilot is shaping the company’s broader expansion into other state governments and private-sector applications.

Q: What were some of the key technical or regulatory hurdles Hashfire had to overcome to enable the Wyoming stablecoin pilot, and how were they addressed?

The biggest challenge was bridging legacy procurement and treasury workflows with programmable, on-chain infrastructure without disrupting existing systems. On the technical side, we built Hashfire to integrate seamlessly via No Code, API and web interface, requiring no changes to the State’s existing processes. The interface supports intuitive, drag-and-drop policy enforcement, allowing government employees to build unlimited approval sequences defining the internal review, signature and payment approval flow, save the sequence and apply it to any agreement with a single click.

We deeply researched where governments perform the most repetitive manual tasks in procurement, and identified authentication, review and approval as a primary bottleneck. We then designed a system where government staff no longer need to manually confirm data as it moves through internal compliance and payment processing- our Genius smartcontracts ensure every detail- from the authenticity of the document and proof that it hasn’t been tampered or altered- to the counterparties and approved payment amounts- is accurate and consistent at each step.

The entire procurement process, audit and compliance is established at the initial contract issuance, guiding each agreement through compliance checkpoints like autopilot guides an aircraft; precise, hands-off, and fully traceable in real-time.

On the regulatory front, we worked closely with Wyoming’s Stable Token Commission to ensure that the use of WYST remained fully compliant while aligning with procurement rules and vendor onboarding processes. Our solution doesn’t just enable instant payments, it preserves full auditability and verification, satisfying the requirements of both financial controllers and IT security teams.

Q: How does Hashfire’s programmable agreement engine ensure compliance with real-time treasury operations, and what makes it well-suited for state-level deployments?

Hashfire transforms legal agreements into authenticated, self-executing digital contracts. These contracts are cryptographically validated, linked to approved purchase orders, and natively programmable, meaning payments, notifications, and escalations occur automatically based on agency-defined conditions. For treasury operations, this ensures funds are only disbursed once preconditions are met and every transaction is logged immutably, creating a real-time audit trail. State-level deployments benefit because Hashfire overlays onto existing workflows, eliminates fraud vectors, and supports statutory compliance with no additional administrative burden. It’s an automation engine with guardrails built specifically for the public sector.

Q: Do you envision this pilot setting a precedent for other U.S. states — or even federal-level adoption — and have you been approached by other jurisdictions since the announcement?

Absolutely. The success of the Wyoming pilot has sparked interest from multiple jurisdictions. The core challenges we’re solving—vendor payment delays, fraud risk, and inefficient paper-based workflows—are universal across government finance.

Several state and municipal governments have already initiated conversations with us following the pilot announcement. What Wyoming has proven is that programmable stabletokens can do more than settle transactions—they can transform how governments execute their obligations with security, speed, and transparency.

We believe this is a foundational shift in public finance. It’s also noteworthy that the solution is far less expensive than existing solutions- not despite integrating blockchain but because we leverage its native efficiencies. Traditional ledgers are far more expensive, less secure and opaque, making them unfit for modern public-sector, institutional, or enterprise use where speed, precision, and auditability are non-negotiable.

Q: Hashfire operates on Avalanche. What advantages does that ecosystem provide in terms of scalability, interoperability, or regulatory compatibility compared to other chains?

Avalanche offers near-instant finality, low fees, and customizable "L1s”—all critical features for public-sector use cases. Hashfire runs on its own sovereign blockchain, custom-configured and deployed using AvaCloud. This architecture allows us to fine-tune the user experience, abstract away blockchain complexity, and enforce the highest levels of security and control—critical for public-sector and enterprise adoption.

We’ve built an environment where government or institutional users never need to touch wallets, gas, or cryptographic tooling, yet every transaction remains verifiable and secure. All financial transactions and payment executions settle on Avalanche Mainnet, giving us access to global liquidity, institutional-grade payments infrastructure, and the security guarantees of a decentralized validator set.

This dual-stack design (sovereign control for programmability, global mainnet execution for trust and liquidity) gives us the best of both worlds. Importantly, our architecture is fully customizable. We can deploy across public or private chains, depending on the regulatory and operational needs of each client. All chains are interoperable with our core ledger, allowing seamless integration regardless of jurisdiction or sector. Avalanche is the only ecosystem that allows this architcture out of the box at enterprise scale.

Q: What’s next for Hashfire — beyond the Wyoming pilot — in terms of real-world integrations or public-sector partnerships?

We’re expanding Hashfire’s programmable payments and agreement infrastructure across state and municipal governments, quasi-public agencies, and regulated private enterprises. For public-sector users, our focus remains on streamlining vendor payments, reducing fraud and compliance risk, and eliminating the manual bottlenecks that plague procurement and treasury departments.

We’re also introducing modules for capital project financing, grant disbursements, and inter-agency compliance reporting—all with zero disruption to existing systems and full auditability from day one. At the same time, we’re entering the private sector in response to strong inbound demand from corporates in finance, banking, and insurance. These institutions face many of the same challenges as governments—particularly around vendor payment execution, reconciliation, and communications.

Hashfire allows them to embed programmable payments directly into their contracts. Our Genius smart contracts ensure funds are automatically routed to the correct party—vendor or lender—with full visibility for the payer and no need to manually update payee information when receivables are financed.

In both public and private markets, the value proposition is the same: less time wasted, fewer errors, and total certainty around obligations. We believe programmable agreements will become the new standard for how institutions, agencies, and enterprises move money—with security, transparency, and zero guesswork.

As Hashfire’s pilot in Wyoming draws the attention of policymakers and technologists alike, its CEO makes clear that the platform is more than just a blockchain-based payment tool. With programmable agreements, compliance automation, and broad interoperability, Hashfire is positioning itself at the intersection of public finance modernization and enterprise-grade digital transformation.