North Dakota Enters the Stablecoin Arena with 'Roughrider Coin'

The Bank of North Dakota (BND) is teaming up with Fiserv, a financial technology giant, to introduce the 'Roughrider Coin,' a U.S. dollar-backed stablecoin. Scheduled for launch in 2026, this initiative signifies North Dakota's foray into the digital currency landscape.

Key Features and Benefits:

• Dollar-Backed Stability: Each Roughrider Coin will be backed 1:1 with U.S. dollars, offering price stability compared to more volatile cryptocurrencies.
• Fiserv's FIUSD Platform: The coin will operate on Fiserv's existing digital asset platform, FIUSD, which facilitates the issuance and transfer of dollar-backed digital assets for financial institutions.
• Improved Efficiency: The primary goal is to enhance transaction speed and efficiency among North Dakota's banks and credit unions.
• Solana Blockchain: Built on the Solana blockchain, Roughrider Coin will be the first state-issued stablecoin to use this platform. Solana is known for its high speed and low transaction costs.
• GENIUS Act Compliance: The project aligns with the federal GENIUS Act, which establishes a regulatory framework for payment stablecoins.

The 'Roughrider' Name

The name pays homage to Theodore Roosevelt's volunteer cavalry regiment, the Rough Riders, and Roosevelt's time in North Dakota, emphasizing the state's spirit of innovation and connection to history.

Key Takeaways

• North Dakota is pioneering state-level stablecoin adoption.
• The Roughrider Coin aims to modernize financial transactions within the state.
• The initiative reflects growing confidence in regulated blockchain-based finance.