North Dakota and Fiserv Plan State-Backed Roughrider Stablecoin

The Bank of North Dakota is set to launch the Roughrider Coin, a US dollar-backed stablecoin developed with Fiserv. The token, scheduled for release to local banks and credit unions in 2026, aims to facilitate interbank transactions, merchant payments, and cross-border money transfers. Fiserv, which processed around 35 billion merchant transactions in 2022, will host Roughrider Coin on its digital asset platform, ensuring interoperability with other stablecoins. Named after Theodore Roosevelt, who was connected to North Dakota, the Roughrider Coin represents the nation's only state-owned bank's foray into the cryptocurrency market. Governor Kelly Armstrong emphasizes that this stablecoin, backed by real money, signifies North Dakota's innovative approach to enhancing the financial ecosystem. The token follows Wyoming's announcement of its own state-issued stablecoin, placing both states in a competitive landscape that has grown increasingly fragmented with new entrants. Industry experts view this surge in stablecoin projects as a positive indication of market maturation, reflecting stablecoins' ability to solve real-world problems.

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