The Bank of North Dakota has joined the stablecoin race. In close collaboration with Fiserv Inc. (NYSE: FI), the Bank of North Dakota on Wednesday announced its plans to unveil a U.S. dollar-backed stablecoin called Roughrider Coin.
“As one of the first states to issue our own stablecoin backed by real money, North Dakota is taking a groundbreaking approach to creating a secure and efficient financial ecosystem for our citizens,” said Bank of North Dakota Governor Kelly Armstrong.
Key details of the North Dakota Stablecoin
The Roughrider Coin will be made available to banks and other financial institutions in North Dakota in 2026. According to the Bank of North Dakota, the Roughrider coin will be seamlessly swapped to other assets to improve the state’s digital payments.
The Fiserv platform was selected for its extensive network, including 10,000 financial institution customers, 6 million merchants, and processes more than 90 billion transactions annually.
“With Roughrider Coin, we are bringing together the reliability of traditional finance and the innovation of blockchain to deliver faster and smarter digital payments,” said Takis Georgakopoulos, COO at Fiserv, noted.
Bigger picture
The strategic launch of the Roughrider Coin, ostensibly inspired by Theodore Roosevelt and the Rough Riders, follows notable changes in federal laws. Earlier this year, President Donald Trump introduced the GENIUS Act, which banned the Federal Reserve from launching a Central Bank Digital Currency (CBDC).
However, the GENIUS Act allowed financial institutions to explore U.S. dollar-backed stablecoins in a regulated manner. North Dakota is following a similar initiative by Wyoming, which recently announced its Frontier Stable Token (FRNT).
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