Bank of North Dakota and Fiserv to launch Roughrider Coin stablecoin

The Bank of North Dakota and Fiserv are set to introduce Roughrider Coin, the first state-backed stablecoin in the U.S., projected for launch in 2026. This stablecoin, which will be backed by the U.S. dollar, aims to improve settlement efficiency between financial institutions and facilitate cross-border payments while encouraging merchant adoption. Named after Theodore Roosevelt's Rough Riders, this initiative underscores North Dakota's pioneering move in digital assets through a private fintech partnership. The Bank of North Dakota has described this project as a key effort to modernize its financial infrastructure and bolster local commerce. The Roughrider Coin will utilize Fiserv's digital asset platform, previously established to enhance compliance and interoperability in digital transactions. Despite similarities to existing dollar-backed stablecoins, specifics regarding custodial safeguards and regulatory oversight remain undisclosed. North Dakota Governor Kelly Armstrong highlighted the importance of this initiative in maintaining the competitiveness of state banks in the evolving financial landscape.

Source 🔗