The Introduction of Roughrider Coin
The Bank of North Dakota (BND), the sole state-owned banking institution in the U.S., is set to introduce a new stablecoin named “Roughrider Coin” in collaboration with Fiserv, a leader in financial services technology. Announced on October 8, this dollar-pegged cryptocurrency is slated for release in 2026 and aims to revolutionize the state’s financial systems while asserting local governance in the burgeoning digital asset arena.
Development and Goals
The forthcoming Roughrider Coin will be developed on Fiserv’s advanced digital-asset platform and is tailored specifically for the state’s community banks and credit unions. The name “Roughrider” pays homage to North Dakota’s rich history, particularly celebrating Theodore Roosevelt and the volunteers of his cavalry regiment.
The main goals of the Roughrider Coin, as highlighted in the recent press statement, include:
- Streamlining transactions between banks
- Enhancing cross-border money transfers
- Promoting its usage among local businesses to foster a cohesive digital economy within North Dakota
This initiative has been framed by state officials as a pivotal step in the evolution of public finance.
Official Statements
“North Dakota is at the forefront of creating a secure and efficient financial ecosystem for our citizens as one of the first states to issue a stablecoin backed by tangible funds,” expressed Governor Kelly Armstrong. He emphasized that this partnership with Fiserv is crucial for local financial institutions to explore innovative methods of handling monetary transactions with the impending Roughrider Coin.
Significance and Context
This development marks a significant milestone, as it will be the first stablecoin issued by any state in the United States using Fiserv’s digital-asset infrastructure, a blockchain system that made headlines earlier this year with the introduction of Fiserv’s own FIUSD stablecoin. Fiserv, headquartered in Wisconsin, brings unparalleled expertise and scalability to this initiative, processing about 90 billion transactions each year for over 10,000 financial entities and six million merchant locations globally.
The push towards state-backed stablecoins has been gaining momentum, evident from Wyoming’s recent launch of its own token in August under the Stable Token Commission, following new federal guidelines on the operation of dollar-pegged digital assets within the U.S. financial landscape.
